Islandwide raid uncovers over S$1 billion in cash, luxury items, and frozen assets
On August 16, 2023, ten foreign nationals were charged in Singapore for their involvement in a large-scale money laundering, forgery, and resisting arrest operation. The suspects, aged between 31 and 44, were arrested during an islandwide raid conducted by more than 400 officers. These individuals, none of whom were Singaporean, are connected to a complex network of criminal activities.
Among the charges, Cypriot national Su Haijin was accused of resisting arrest after attempting to flee police by jumping from a second-floor balcony, resulting in injuries. In court, he denied the charges, claiming he was not trying to escape the police but feared for his life due to threats from an alleged lover’s boyfriend. Other suspects, including Chinese nationals Zhang Ruijin and Lin Baoying, were charged with forgery after being found with multiple foreign passports.
The police seized over S$23 million in cash and luxury items during the raids, and prohibition of disposal orders were issued for 13 properties and five vehicles, valued at over S$118 million. Additionally, four bank accounts related to the suspects were frozen, with a total balance exceeding S$6.7 million.
These arrests form part of a broader investigation into illicit financial activities in Singapore, with the authorities working closely with the Monetary Authority of Singapore (MAS) to identify tainted funds. The individuals involved face severe penalties, with money laundering convictions potentially leading to up to 10 years in prison or a fine of up to S$500,000. The next court sessions for the accused will be held in the coming week.
