Money laundering accused Su Haijin may have to plead guilty or claim trial on 2 charges soon
ONE of the 10 suspects involved in the S$2.8 billion money laundering case may be required to either plead guilty or claim trial soon.
The deputy public prosecutors for Su Haijin’s case are “to be ready to proceed” with the current two charges against him if investigations still cannot be completed within eight weeks.
This was the outcome of a pre-trial conference held on Wednesday (Oct 11), presided over by District Judge Ng Cheng Thiam.
Su, a Cypriot national, faces one charge of unlawfully evading arrest as well as a money-laundering charge involving about S$4 million in a UOB bank account which was allegedly the benefits of criminal conduct.
According to official court records, Ng said if there are any account or assets not tainted, the prosecution can consider releasing them.
“As the defence counsel has written to the Commercial Affairs Department and made no application to this court, this court shall leave it as it is for the CAD and the prosecution to reply to the defence counsel.”
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Last month, it was reported that the total value of assets seized from Su and his wife increased to over S$170 million. This includes S$2.1 million in cash, S$46.5 million in bank accounts, S$120 million in properties and S$2.6 million worth of vehicles.
Su was also found to have substantial wealth overseas, owning one condominium in Cambodia, three condominiums in Cyprus, one property along Oxford Street, five condominiums in Macau and partial ownership of a yacht named Family.
Ng said that the prosecution can consider releasing the documents and devices it has analysed to the defence. For devices still being analysed, there will be no change to their status.
He added that the court will hear from the prosecution on this matter at the next pre-trial conference, which will be held on Dec 8.
No bail was granted to Su, who is in remand.
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