FIFTY-FIVE more properties and 15 vehicles have been slapped with prohibition of disposal orders by the police, in an update to Singapore’s largest money laundering case.

An additional 189 luxury bags, 34 pieces of jewellery and five luxury watches have been seized or issued with prohibition of disposal orders, bringing the total value of items to more than S$3 billion to date, the police said on Friday (Jan 19).

Two more individuals, Su Yongcan, 33, and Wang Huoqiang, 29, have been issued with warrants of arrests and Interpol Red Notices. Both have Cambodian passports.

They had left Singapore prior to the islandwide raid on Aug 15, 2023.

Su is the brother-in-law of Wang Dehai, one of the 10 foreign nationals who have been arrested so far. Wang Huoqiang is Wang Dehai’s cousin. 

They, along with Wang Dehai, are wanted in China for allegedly offering remote gambling services there.

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The police seized more than S$16 million in cash and other foreign currencies in relation to Su. They also froze bank accounts with a total balance of more than S$145 million.

Su Yongcan is the owner of a S$26 million penthouse at South Beach Residences, according to checks by The Business Times. The five-bedroom unit spans three levels – 41th, 42nd and a rooftop – with a pool overlooking the Marina Bay area. 

In relation to Wang Huoqiang, some S$188,000 in cash and other foreign currencies were seized, the police said on Friday. They also froze bank accounts with a total balance of more than S$5 million.

Meanwhile, Su Baolin, who is also part of the money laundering probe, was handed eight additional charges on Friday, bringing the total number of charges he now faces to 10. 

The accused allegedly used S$657,980, derived from a conspiracy, to fund the purchase of three properties at Scotts Square in the name of his wife Ma Ning.

The sum of money is said to have originated from a conspiracy with former Citibank employee Wang Qiming to forge a document to cheat Standard Chartered Bank. Wang Qiming was investigated by the Commercial Affairs Department for forgery related offences in 2021.

Su Baolin, who holds a Cambodian passport, also faces a charge for using as true a false declaration concerning his source of funds for a unit purchased at Gramercy Park in Orchard.

He had allegedly claimed he was a director of a company known as Great Trillion Technology in Hong Kong, and had received dividends and drawn a director’s salary as well as received fees totalling about S$5.1 million since 2016.

Su Baolin also allegedly made a false declaration that he was a director and shareholder of a company known as China Run Feng (Holdings) Investment, and had received similar benefits from that company. 

He faces another three charges for refusing to sign statements in his name while being held in remand at Changi Prison Complex. 

Three other charges were handed to him for allegedly making false representations to the Inland Revenue Authority of Singapore, regarding the true and accurate values of Xinbao Investment Holdings’ revenue, gross profits and trade receivables for the company’s financial years in 2019, 2020 and 2021.

On all three occasions, Su Baolin is said to have engaged in a conspiracy with a Wang Junjie to do so. 

Wang Junjie was a director, secretary or shareholder of 185 companies in Singapore, many of which were owned by the 10 suspects in the ongoing money laundering probe.

The Accounting and Corporate Regulatory Authority said on Friday that it has cancelled Wang Junjie’s registration. 

Anyone with information on Su Yongcan or Wang Huoqiang should call the police hotline at 1800-255-0000.