A Porsche 911 Targa vehicle seized by police from the residence of Su Jiafeng, one of the suspects in the S$2.8 billion money laundering case, in Singapore, Wednesday, Oct. 25, 2023. Allegations have broken out that wealthy Chinese have paid illicit gains in the Asian financial hub, in what the government itself describes as potentially one of the largest money laundering cases globally. Photographer: Ore Huiying/Bloomberg via Getty Images
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Singapore on Tuesday sentenced the first person to plead guilty in Southeast Asia’s biggest money laundering scandal to 13 months in prison.
Cambodian national Su Wenqiang had been charged with 11 charges relating to forgery and laundering of criminal proceeds. Prosecutors proceeded with two counts of money laundering after an agreement to consider the remaining nine charges for sentencing.
Singapore police said they had seized assets worth about S$6 million ($4.44 million) from Su, who was arrested in August last year along with nine others of Chinese origin, in a case which stunned many and raised questions about Singapore’s reputation. as a financial hub.
According to Singapore’s Home Office, the value of all assets seized to date amounts to approximately S$3 billion.