Facing Jail for Assisting Three Chinese Nationals in Restricted Property Purchases
A Singaporean woman, Song Fanrong, has pleaded guilty to acquiring landed properties on behalf of three Chinese nationals, intending to transfer ownership once they obtained Singapore citizenship. The prosecution is recommending a one-month jail term for Song, who acted as a nominee in these transactions, which contravened the Residential Property Act.
Acting as a Trustee for Restricted Properties
Song, a naturalised citizen and former pre-school owner, facilitated the purchase of three units at Belgravia Villas in Ang Mo Kio between September and November 2014. The properties, classified as restricted under Singapore’s Residential Property Act, were intended to be held in trust until the buyers gained citizenship.
One of the men, Wang Chen, transferred S$1.8 million to Song’s bank account in China, which was then used as a partial payment for a S$3.48 million property. Similar arrangements were made for Chen Xiaopu and Liu Guohui, who also provided funds through Song for their respective property purchases.
Default on Payments and Seized Funds
All three foreign buyers eventually defaulted on their sale and purchase agreements, ceasing progressive payments. The developer, Fairview Developments, deducted penalties from the amounts paid and surrendered the remaining S$1.6 million to authorities, which was later seized by the Commercial Affairs Department in 2018.
Legal Proceedings and Sentencing
The Singapore Land Authority flagged the transactions in 2017, leading to legal action. Song faces charges for purchasing properties with the intent of holding them in trust for foreigners, a violation of the Residential Property Act. Her lawyer has argued for a reduced sentence, citing her lack of personal profit and intent only to assist the men in owning homes once they became citizens.
Song is scheduled for sentencing on January 5, 2022, and could face a fine of up to S$100,000, imprisonment of up to three years, or both.
