Money laundering accused faces six new charges for alleged forgery and conspiracy to cheat StanChart

CAMBODIAN passport holder Chen Qingyuan, one of many 10 overseas nationals concerned within the S$3 billion cash laundering case in Singapore, was on Tuesday (Feb 20) slapped with six new costs.

The new costs are associated to forgery and interesting in a conspiracy to cheat Standard Chartered Bank (StanChart).

Two of the costs acknowledged that Chen had in September 2021 instigated one Yin Hang Liu Shui Dian Hua to forge digital information to indicate StanChart that Wang Qiujiao, Chen’s purported girlfriend, had official sources of her wealth.

This was after the financial institution had requested for info in or round August 2021 about fund flows into Wang’s StanChart checking account amounting to about S$3 million and US$100,000.

The cast paperwork embrace a private revenue tax assertion dated Sep 10, 2021, issued by China’s tax authority, in addition to a February 2020 revenue certificates from Zi Qinghua, an organization in China.

Another two costs famous that in July 2021, Chen had allegedly instigated one Yin Hang Liu Shui Dian Hua to forge revenue statements from one other two China corporations, Sunshine Coast and Xiamen Yihong, with the intention to commit fraud.

The final two new costs alleged that Chen had engaged in a conspiracy with Wang and submitted the revenue certificates of Sunshine Coast and Xiamen Yihong to StanChart in December 2021.

These new costs convey the full quantity confronted by Chen to 10. In August final 12 months, Chen, who additionally holds passports from Dominica and China, was slapped with 4 costs associated to cash laundering involving no less than S$8 million in belongings.

Chen was arrested at his condominium in Leonie Hill Road throughout an islandwide anti-money laundering blitz that additionally nabbed 9 different overseas nationals.

More than S$20 million value of his belongings had been seized or issued prohibition of disposal orders, which suggests they can’t be bought. 

Chen has been in remand for over six months. He was denied bail in November on the grounds that he was a flight threat, has tenuous roots in Singapore and is purportedly already needed in China on fraud costs.

The investigating officer in his case had additionally famous in an affidavit that Chen has substantial wealth in a number of jurisdictions abroad, together with hyperlinks to a on line casino enterprise in Cambodia, in addition to high-end golf equipment and property in Thailand.

Chen will subsequent seem in courtroom on Wednesday for a pre-trial convention.