SINGAPORE: Vang Shuiming, one of the 10 suspects involved in Singapore's billion-dollar money laundering probe, was on Wednesday (Mar 27) slapped with six new charges.
The fresh charges are related to his alleged fraudulent use of forged financial documents in relation to two companies, namely Xiamen Likanghang Trading Co and Xiamen Yetian Trading Co.
Vang had allegedly forged financial statements of the two companies for the financial years 2017 to 2019 as supporting documents to the Singapore branch of Bank Julius Baer & Co.
This brings the total number of charges that the 43-year-old faces to 22. These include the possession of S$2.4 million (US$1.7 million) in criminal benefits from unlicensed moneylending in China.
Vang is listed as a Turk in court documents but has passports from China, Vanuatu and Turkiye.
On Wednesday, defence lawyer Wendell Wong informed the court that this was the second time similar charges were tendered to the court, when in fact the issues were already known before this.
Mr Wong added that the defence will further address this point at Vang's pre-trial conference on Apr 4.
In January, Vang was handed 11 additional charges, also related to his alleged fraudulent use of forged documents.
He and nine others were arrested in August 2023 when the police conducted raids on multiple locations across Singapore, including luxury properties.
Since then, the total value of assets seized or frozen has risen to over S$3 billion.
More than S$200 million was seized from Vang and his wife.
This article was originally published in TODAY.
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The fresh charges are related to his alleged fraudulent use of forged financial documents in relation to two companies, namely Xiamen Likanghang Trading Co and Xiamen Yetian Trading Co.
Vang had allegedly forged financial statements of the two companies for the financial years 2017 to 2019 as supporting documents to the Singapore branch of Bank Julius Baer & Co.
This brings the total number of charges that the 43-year-old faces to 22. These include the possession of S$2.4 million (US$1.7 million) in criminal benefits from unlicensed moneylending in China.
Vang is listed as a Turk in court documents but has passports from China, Vanuatu and Turkiye.
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On Wednesday, defence lawyer Wendell Wong informed the court that this was the second time similar charges were tendered to the court, when in fact the issues were already known before this.
Mr Wong added that the defence will further address this point at Vang's pre-trial conference on Apr 4.
In January, Vang was handed 11 additional charges, also related to his alleged fraudulent use of forged documents.
He and nine others were arrested in August 2023 when the police conducted raids on multiple locations across Singapore, including luxury properties.
Since then, the total value of assets seized or frozen has risen to over S$3 billion.
More than S$200 million was seized from Vang and his wife.
This article was originally published in TODAY.
Continue reading...