Police in Singapore have issued arrest warrants via Interpol for two ethnic Chinese linked to a massive money laundering case involving a record number of assets that now total over S$3 billion (US$2.24 billion) in value, according to a report on Friday by Channel News Asia, which said Su Yongcan, 33, and Wang Huoqiang, 29, were traveling on Cambodia passports and fled the city state before police began to investigate the case in mid-August last year.
Ten other foreigners – all of Chinese origin but who held a range of passports from Cyprus to Caribbean and Pacific Island nations – were arrested in raids on August 15, the report said, several of whom were allegedly linked to a gambling operation in the Philippines and a scheme that generated funds from people in China. Illegal gambling proceeds were allegedly laundered in Singapore through the purchase of luxury properties, cars, plus jewellery, liquor, bags and watches.
Read the full report: CNA.
ALSO SEE:
High-Tech Asian Crime Wave: Cyber Scams, Casinos Loot Billions
Big Tech ‘Doing Little’ to Counter Rampant Scams on Social Media
UOB to Cut Ties With Myanmar Banks on Sept 1 – Nikkei
EU, US Sanctions Aim to Curb Funds for War in Myanmar
Macau Junket King Alvin Chau Gets 18 Years For Casino Crimes
Crime Gangs Control Some Myanmar, Laos Economic Zones: UN
