SINGAPORE — The last of 10 individuals prosecuted in the S$3 billion money laundering case pleaded guilty in court on Friday (June 7) and was handed the longest jail term so far at 16 months.
SINGAPORE — The last of 10 individuals prosecuted in the S$3 billion money laundering case pleaded guilty in court on Friday and was handed the longest jail term so far at 16 months.Wang Dehai, an accused charged over the billion-dollar money laundering case in Singapore, pleaded guilty in court on June 7, 2024.SINGAPORE — The last of 10 individuals prosecuted in the S$3 billion money laundering case pleaded guilty in court on Friday and was handed the longest jail term so far at 16 months.
The employment offences were for falsely representing himself as a brand manager and a business consultant for Craft Digital between 2018 and 2022 to obtain employment passes, and for hiring a housekeeper without a valid work pass.For the money laundering charge that was proceeded on, Wang could have been jailed up to three years, or fined up to S$150,000, or both.
As a promoter, he was given a 3 per cent share in the annual profit of the business. His total income in 2016 amounted to more than S$15 million. Wang left the operation in 2022 and received a final payout of around S$1.38 million. On Aug 15, 2023, the day of Wang's arrest, a Rimowa luggage containing S$2,299,950 in cash was found at Wang's home.
Comparing the sum in Wang's proceeded charge to the accused's cases that came before him, the prosecution said that individual and similar money laundering charges involving S$1 million to S$1.47 million had resulted in 13-month jail terms. Unlike the other accused, Wang did not face any forgery charges, and had not transferred money through corporate intermediaries, said Ms Chia.
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