1. Men linked to money laundering case
2. Cash and assets seized from suspects.
Accident – Death – Obituary News :
Source: Straits Times
Article Date: 23rd May 2024
Author: Andrew Wong
Businessmen Su Shuiming and Su Shuijun have been placed on the wanted list in China.
Two Chinese businessmen, Su Shuiming and Su Shuijun, are at the center of a $3 billion money laundering probe in Singapore. The police have issued prohibition of disposal orders for over $530 million in cash and assets, including 28 properties, that have been either seized or marked for investigation. The suspects, aged 37 and 39, have fled the country, leaving a trail of financial irregularities in their wake.
According to a report by The Straits Times and the Organised Crime and Corruption Reporting Project (OCCRP), Su Shuiming and Su Shuijun were identified as individuals of interest in the money laundering case after an anti-money laundering operation in Singapore led to the arrest of 10 foreigners in August 2023.
Records from British companies show that Su Shuiming, born in 1985, and Su Shuijun, born in 1986, have extensive business and property holdings that have come under scrutiny. The police have frozen bank accounts, seized cash, jewellery, luxury bags, and collectibles belonging to the suspects as part of the investigation.
Assets Seized and Prohibition Orders Issued
The police revealed that they have taken control of assets worth over $530 million linked to the two men. Prohibition of disposal orders have been issued for multiple properties, vehicles, and country club memberships owned by the suspects. The investigation has also led to the freezing of bank accounts and the seizure of valuable items.
Prohibition of disposal orders prevent the suspects from selling or transferring their assets during the investigation. The police have lodged caveats against real estate properties to safeguard them until the case concludes. These measures ensure that the assets remain intact for potential court proceedings.
International Links and Dubai Properties
Su Shuiming and Su Shuijun are part of a network of individuals wanted by Chinese authorities for their involvement in a cross-border online gambling syndicate. An updated notice from the Public Security Bureau in Zibo, China, highlights their illegal activities abroad.
Reports indicate that the suspects own properties worth over $31 million in Dubai, including luxury units in the Grande Downtown development. The investigation has revealed connections between the suspects and other individuals implicated in the money laundering case, such as Cypriot nationals and Chinese associates.
Ongoing Investigations and International Cooperation
The police statement on May 22nd confirmed ongoing investigations against 15 individuals linked to the case who are currently outside Singapore. Interpol has been involved in issuing red notices for some of these suspects to aid in their apprehension.
Among the wanted individuals are Cambodian nationals and Cypriot nationals with ties to the money laundering syndicate. The collaboration between international law enforcement agencies highlights the complexity of transnational financial crimes and the efforts to bring the perpetrators to justice.
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