Defendant in multi-billion-dollar Singapore money laundering case denied bail

One of the defendants in the busted multi-billion-dollar money laundering ring in Singapore who is allegedly tied to the lottery business in the Philippines and Cambodia has been denied bail by Singapore courts, with the defense claiming the individual could abscond.

According to CNA, the suspect – named Su Wenqiang, aged 31, is accused of a $441,000 offense partly linked to illegal remote gambling and the use of $366,280 in illegal proceeds to buy a Mercedes.
The defendant reportedly has passports from multiple jurisdictions, including China, Cambodia and Vanuatu.
Lawyers have applied for his release on bail.

https://agbrief.com/intelligence/deep-dive/20/09/2023/under-the-scope-singapore-money-laundering-and-the-bangladesh-bank-heist/

Some $440,000 in cash linked to Su has been seized as well as $1.47 million in Su’s wife’s bank account and a further two vehicles held in his wife’s name.
Authorities note that the investigation focuses on Su’s alleged lottery business involvement in the Philippines and Cambodia, reportedly focused on Chinese gamblers.
Su is reportedly wanted by Chinese authorities since 2017 for involvement in illegal gambling.
The purported gambling operation allegedly used social messaging apps such as WhatsApp and Telegram to conduct the remote gambling operations and would discuss the movement of funds via the platforms.
Su’s bail was denied by the judge due to having only been in Singapore for two years and not being a permanent resident or citizen.

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