THE total value of the assets seized from Cypriot national Su Haijin, one of the accused in the S$1.8 billion anti-money laundering bust, has increased to S$170 million, the court heard on Wednesday (Sep 13).

He was also found to have “substantial wealth overseas”, including the 38 Oxford Street property in London, and a yacht in Phuket, Thailand.

The accused also has other passports from Cambodia and Turkey that were not recovered by the police. A photograph of a Saint Lucian passport, with the name Su Junjie, was also found in the accused’s phone.

Deputy Public Prosecutor (DPP) Eric Hu said Su Haijin’s overseas wealth and multiple passports were indications that he was an “extremely high flight risk”.

DPP Hu also noted that Su Haijin has been charged with non-bailable offences, and pointed out that there is a risk of collusion between him and Su Baolin, another accused in the case, in particular.

It was previously revealed that Su Haijin and Su Baolin had close financial dealings, with regard to two properties in Beach Road worth S$2.2 million in Su Haijin’s name. The duo also had a yacht bought in connection with three other individuals.

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These facts were revealed in the investigating officer’s affidavit, which was referenced in court.

Besides Su Haijin, the other nine accused persons are awaiting bail review at later dates.

District Judge Brenda Tan on Wednesday denied bail to Su Haijin, noting that he had no tenuous roots in Singapore and had the means to relocate comfortably overseas.

The judge also noted that the circumstances around Su Haijin’s arrest had shown he was a high flight risk.

Su Haijin’s investigations had been carried out at a slower pace than the rest as he had surgery for injuries sustained during his arrest, the prosecution said previously.

He allegedly jumped out of the second-floor balcony of a bungalow and hid in a drain, sustaining fractures to his legs and wrist.

He is currently facing one charge of unlawfully evading arrest, as well as a money-laundering charge, which referenced about S$4 million in a UOB bank account gained through unlawful remote gambling.

In court on Wednesday, DPP Hu said Su Haijin was not forthcoming on his full financial dealings with other suspects. The accused had only come clean about these dealings after he was confronted with evidence from the police.

His wealth overseas, which was detailed in the investigating officer’s affidavit, demonstrated that he has real means to travel and leave the jurisdiction easily, said DPP Hu.

Su Haijin’s counsel, Julian Tay of Lee & Lee, argued that his wealth overseas was only around 10 per cent of his assets that have been seized in Singapore. Su Haijin has been in Singapore since 2017.

His immediate family – including his wife, four children and parents – are also living in Singapore, Tay said, adding that his client is not going to abandon his family to become a fugitive.

“He has every reason to stay in Singapore to defend himself and to reclaim back his assets,” said Tay.

On his client’s multiple passports, Tay said Su Haijin disclosed the existence of his Cambodian and Turkish passports to the police willingly and told them he does not have access to them as they are no longer valid.

His Chinese passport, which the police found, is also no longer valid and he has renounced his Chinese citizenship.

Meanwhile, Tay explained that the passport from Saint Lucia carries the name Su Junjie as that is his alias. The second page of the passport, which was not photographed, has the name Su Haijin, Tay told the court.

DPP Hu countered that Su Haijin’s overseas wealth is not a small amount and would still enable him to lead a comfortable life if he absconds. In addition, Su Haijin was not forthcoming with the existence of the Saint Lucian passport, and only disclosed it after he was shown evidence.

The police is currently verifying the existence of the Cambodian, Turkish and Saint Lucian passports with the relevant authorities.

DPP Hu added that investigations are still ongoing, as the case is “one of the most serious, if not the worst money-laundering cases in Singapore”, with a huge amount of assets involved.

In any case, the court is not required to conduct a rigorous fact-finding at this stage as the matter still has to be tried, DPP Hu said.

Su Haijin will next be in court on Oct 11.