PROSECUTORS on Monday (Nov 20) argued that there was no material change to the bail application of money laundering accused Zhang Ruijin and pushed for it to be dismissed.

This is as the fresh application was filed by Zhang’s new counsel, Eugene Thuraisingam, “scarcely a month” after the previous bail review on Oct 18, said the prosecution.

The accused was then represented by Loo Choon Chiaw of Loo & Partners.

District Judge Kow Keng Siong ordered for the matter to be adjourned to Dec 11, due to scheduling and for Thuraisingam to take instructions from the accused.

Zhang, who is purportedly in a relationship with another accused Lin Baoying, faces three charges related to forging bank documents that were used to cheat CIMB Bank.

According to the investigating officer’s affidavit, around S$109.8 million in assets related to him and two companies he owns with Lin – Golden Eagle Assets and Golden Eagle Family Office – have been seized by the Commercial Affairs Department or issued prohibition of disposal orders.

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Data compiled by The Business Times showed Zhang is linked to four companies.

In court, Deputy Public Prosecutor (DPP) Ryan Lim asked for the application to be dismissed.

He noted that this bail application was submitted late last Friday and no mention of it had been made during Zhang’s pre-trial conference on Nov 17.

While the prosecution had not had opportunity to review the defence’s submissions, DPP Lim said they appeared not to raise any new issues “on the face of it” and that the matter had already been argued at length by the prosecution and Zhang’s previous counsel on Oct 18.

He added that the defence’s submissions appeared to be based on Zhang’s first affidavit and that no new affidavits had been filed since.

“Where there are no new facts and no material change in circumstances, the court should be extremely reluctant to grant bail,” said the prosecutor.

He raised the case of Vang Shuiming, another accused in the S$2.8 billion case, who applied twice to the High Court to be released on bail and was denied both times.

During Vang’s second application on Oct 12, Justice Vincent Hoong had reminded the applicant that while he still has the option to seek another bail review or file further applications to the High Court, he has to ensure that there are proper grounds to support his application.