SINGAPORE — Su Baolin, one of the 10 foreigners in Singapore's largest money-laundering case, made millions from his role in illegal online gambling operations abroad, said prosecutors. He got the money into Singapore by funnelling it through his accomplices and cryptocurrency platforms to make it hard for the authorities to detect his crimes.
On April 29, Su Baolin was sentenced to 14 months' jail after pleading guilty to three charges.SINGAPORE — Su Baolin, one of the 10 foreigners in Singapore's largest money-laundering case, made millions from his role in illegal online gambling operations abroad, said prosecutors.
On April 29, Su was sentenced to 14 months' jail after pleading guilty to three charges — two for money laundering and one for abetting false representations made to the Inland Revenue Authority of Singapore .The other 10 charges included forgery, making false declarations to the Ministry of Manpower and refusing to sign statements he made at Changi Prison. These were taken into consideration for sentencing.
Su initially told the Commercial Affairs Department he acquired this cash from buying cryptocurrency, and then claimed he won the money by gambling in casinos. Su did this to make the firm appear progressively profitable, so that he would have a higher chance of getting permanent residency in Singapore, said DPP Hu.The prosecution sought a jail term of between 14 and 16 months, noting that this term was already mitigated as Su had forfeited most of his assets.
As Su Baolin was denied bail, Sudheesan said his waiting period behind bars was torturous, and he constantly worried about cancer. About the charge of making false representations to Iras, Sudheesan said Su Baolin did not evade tax, but in fact paid additional tax.
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