KUALA LUMPUR: Chinese national Wang Baosen was sentenced to 13 months in jail, marking the third individual convicted in Singapore's largest money laundering case, following a probe initiated in 2021.
The Straits Times reported that the 32-year-old pleaded guilty to two charges, with six other charges being taken into consideration. With one-third remission, he may be out by early May.
In his plea offer, he has forfeited his assets worth US$8 million believed to be benefits from illegal gambling offences abroad. He admitted to using over $1.4 million from Hornet Bee International Trading, to pay for 10 per cent of the purchase price of an upscale condominium unit in Orchard Road.
Baosen also admitted to possessing nearly US$600,000 in an HSBC bank account in the republic with the monies, suspected to be proceeds from unlawful gambling activities. According to the news report, Deputy Public Prosecutor Foo Shi Hao - who sought between 13 and 15 months in jail for Baosen, said his case bears many similarities to that of Su Haijin, one of the 10 foreigners arrested in the money laundering probe.
Su, a Cypriot national, who jumped from the second-floor balcony of a good class bungalow during the police raid on Aug 15 last year was sentenced to 14 months' jail on April 4 after pleading guilty to three charges, with 11 charges taken into consideration. Foo said both accused had pleaded guilty to two money laundering charges each, with the amount involved in both cases exceeding US$2 million.
He said unlike Su, Baosen did not cheat the Inland Revenue Authority of Singapore in the charges against him. Defence lawyer Favian Kang sought 13 months' jail for his client, saying his overall criminality is lower than Su's.
He also said that his client did not resist arrest and had cooperated with the authorities in their investigations. According to the report, the lawyer said Baosen consents to forfeiting 100 per cent of his criminal proceeds. He also wishes to be reunited with his two young daughters and his wife.
Baosen was initially charged on Aug 16, last year with two counts of money laundering relating to possessing criminal benefits from illegal remote gambling offences.