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Search resuls for: "Wang Baosen"


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The Straits Times Illustrations/Cel Gulapa via REUTERS/File Acquire Licensing Rights Read moreSINGAPORE, Sept 21 (Reuters) - The total value of assets seized in Singapore's biggest money laundering case has swelled to S$2.4 billion ($1.76 billion), police said on Wednesday. Last month, 400 police officers ran simultaneous raids across Singapore and arrested 10 foreigners in an anti-money laundering swoop. Police have said the 10 suspects were allegedly "laundering the proceeds of their overseas organised crime activities, including scams and online gambling". During the raids, police seized S$1 billion worth of assets including bank accounts, S$23 million in cash, luxury homes, cars, bags, watches and two gold bars. The amount was updated to S$1.8 billion in early September as investigations led authorities to assets in Swiss banks.
Persons: Su Baolin, Su Haijin, Chen Qingyuan, Su Wenqiang, Lin Baoying, Zhang Ruijin, Wang Dehai, Su Jianfeng, Vang Shuiming, Wang Baosen, Xinghui Kok, Michael Perry Organizations: The Straits, REUTERS, Police, Thomson Locations: Singapore, SINGAPORE, Cyprus, Cambodia, Dominica, China, Turkey, Vanuatu
The Straits Times Illustrations/Cel Gulapa via REUTERS/File Acquire Licensing Rights Read moreSINGAPORE, Sept 5 (Reuters) - Police in Singapore investigating a major money laundering operation have seized S$125 million ($91.79 million) from the bank accounts of one of ten foreign suspects accused in the case. The total value of assets seized by investigating authorities now stands at S$1.8 billion, according to prosecutors. The scale of the money laundering operation has shocked the wealthy Asian financial hub, and raised concerns over whether there are loopholes in its financial system. A state court denied bail for two of the accused foreigners, Wang Baosen and Su Baolin, on Wednesday. ($1 = 1.3618 Singapore dollars)Reporting by Chen Lin in Singapore; Additional Reporting by Yantoultra Ngui; Editing by Simon Cameron-Moore and Jan HarveyOur Standards: The Thomson Reuters Trust Principles.
Persons: Su Baolin, Su Haijin, Chen Qingyuan, Su Wenqiang, Lin Baoying, Zhang Ruijin, Wang Dehai, Su Jianfeng, Vang Shuiming, Wang Baosen, Bank Julius Baer, Julius Baer, Chen Lin, Yantoultra Ngui, Simon Cameron, Moore, Jan Harvey Organizations: The Straits, REUTERS, Police, Turkish, Credit Suisse Singapore, Bank, Credit Suisse, Thomson Locations: Singapore, SINGAPORE, Vang
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