$3b money laundering case: Fourth man gets 14 months’ jail

Su Baolin, one of the 10 foreigners in Singapore’s largest money laundering case, made millions from his role in illegal online gambling operations abroad, said prosecutors.

He got the money into Singapore by funnelling it through his accomplices and cryptocurrency platforms to make it hard for the authorities to detect his crimes.

And when the police found a large sum of money in his bungalow, he lied he had won the money by gambling in casinos.

On April 29, Su was sentenced to 14 months’ jail after pleading guilty to three charges – two for money laundering, and one for abetting false representations made to the Inland Revenue Authority of Singapore (Iras).

Su, 42, who is originally from China and holds a Cambodian passport, faced a total of 13 charges.

The other 10 charges included forgery, making false declarations to the Ministry of Manpower and refusing to sign statements he made at Changi Prison. These were taken into consideration for sentencing.

With one-third remission, Su – who has been in remand since his arrest on Aug 15, 2023 – could be out by end May.

Deputy Public Prosecutor Eric Hu told the court the police seized over $100 million from Su. After accounting for his liabilities, this amounted to about $72 million worth of assets.

On the day of Su’s arrest, police found about $777,220 cash in two safes in his good class bungalow (GCB) on Nassim Road.

Su initially told the Commercial Affairs Department he acquired this cash from buying cryptocurrency, then claimed he won the money by gambling in casinos.

He could not explain how he acquired the cash. DPP Hu said there is reasonable suspicion this cash is traced to his criminal proceeds.

He said Su was linked to an illegal gambling site, and had supervised online websites between 2019 and 2023, earning cryptocurrency worth approximately $5 million to $6 million.

Su used over $332,200 of this money to buy a Toyota Alphard Hybrid in 2022.

From 2020 to 2022, as the director of a firm named Xinbao Investment Holdings, Su conspired with a Wang Junjie to make inflated representations to Iras on the company’s financial situation.

Su did so to make the firm appear progressively profitable, so he would have a higher chance of getting permanent residency in Singapore, said DPP Hu.

He and his family applied for permanent residency in 2022, but their applications were rejected.

The prosecution sought a jail term of between 14 and 16 months, noting this sentence was already mitigated as Su had forfeited most of his assets.

Su’s lawyer Mr Sunil Sudheesan argued for a shorter jail term of 12 months and 3 weeks. He argued the amounts involved in his client’s money laundering charges were lower than that of two other accused, Su Haijin’s and Wang Baosen’s, who were convicted in April.

Mr Sudheesan added the authorities had known in August 2023 that Su Baolin faced a risk of cancer, but he only underwent a biopsy on his large intestine in April. The results are not out yet.

As Su Baolin was denied bail, Mr Sudheesan said his waiting period behind bars was torturous, and he constantly worried about cancer.

Asking to let his client come out to get treatment, the lawyer said: “He made a mistake, he has admitted to his actions, he accepts responsibility, and he has served his time.”

DPP Hu said the chief medical officer of prisons has said the prisons can care for Su Baolin.

The prosecutor added the defence did not show how Su Baolin’s condition affected his ability to serve a prison sentence.

About the charge of making false representations to Iras, Mr Sudheesan said Su Baolin did not evade tax, but in fact paid additional tax.

DPP Hu said this was part of Su Baolin’s modus operandi to inflate his financials, and he ought not to be sentenced leniently because of this.