Ex-Citibank relationship manager jailed 2 years for holding almost S$500k for convicted money launderer Su Baolin
A 28-year-old former Citibank relationship manager has been sentenced to two years’ jail for his involvement in the billion-dollar money laundering case.
Among other offences, Chinese national Wang Qiming held S$481,678 in laundered cash for Su Baolin — one of the convicted money launderers linked to the case.
Source: Shin Min Daily News
Wang also pleaded guilty to forgery and obstructing the course of justice.
Ex-Citibank relationship manager held cash for Su Baolin & forged loan documents
Wang, who worked at Citibank from Aug 2020, helped Su sell cryptocurrency privately and later collected hundreds of thousands in cash for him.
He also forged a “borrowing agreement” to hide a suspicious deposit of over S$650,000 into Su’s Standard Chartered Bank account.
On 12 October 2021, just minutes after the Police had contacted Wang for investigations, Wang deleted the WhatsApp application on his mobile phone.
He wanted to prevent the Police from accessing his WhatsApp messages, as these contained evidence that incriminated him, the SPF said.
Offences were ‘nothing short of egregious’
Deputy Public Prosecutor Louis Ngia noted that Wang’s actions were premeditated and that he had abused his position as a bank officer, CNA reported.
District Judge Chay Yuen Fatt said Wang’s offences were “nothing short of egregious”, stressing that he personally helped obscure the source of criminal funds.
In addition to Su Baolin, Wang’s clients also included Su Haijin and Vang Shuiming — both were also linked to the billion-dollar money laundering case.
In particular, Wang forged a document that allowed Vang to deposit S$1 million into his Citibank account.
Su Baolin, Su Haijin, and Vang Shuiming have served their respective sentences and were deported from Singapore last year.
‘Money launderers don’t have a label on their head’: Judge
Responding to the defence’s claims that Wang did not know his clients were criminals, Judge Chay said money launderers “could not have a label stuck to their head”.
According to CNA, Wang’s lawyer, Vinit Chhabra, said Wang intends to appeal the sentence, but chose to begin serving time immediately.
He told the judge that Wang only carried the cash “for 30 to 45 minutes” and earned no commission from the act.
Still, Mr Ngia said the cash can be reasonably suspected to be criminal proceeds. Wang also did not provide any explanation for the transactions.
For holding laundered cash, Wang could have faced up to three years in jail, a fine of up to S$150,000, or both.
Source: Geo’s Gallery on Canva. Pic for illustrative purposes only
Forgery and obstruction of justice carry even heavier penalties, with maximum imprisonment of 10 years and seven years, respectively.
Also read:Â Sam Goi reveals exact dates of dinners with Su Haijin & politicians, says they complied with Covid-19 rules
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Featured image adapted from Shin Min Daily News and Gutzy Asia.
