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Billion-dollar money laundering case: Man financed purchase of 10 units at luxury condo Canninghill Piers​


The_King

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Vang Shuiming, a 42-year-old Turkish national, financed 10 condominium units at Canninghill Piers.

 Sina.com, canninghillpier.sg/CNA
Vang Shuiming, a 42-year-old Turkish national, financed 10 condominium units at Canninghill Piers.

Published September 6, 2023
Updated September 6, 2023

SINGAPORE — A man implicated in one of Singapore’s biggest money laundering probes had financed the purchase of 10 units at luxury condominium Canninghill Piers and another unit at Park Nova, an affidavit by an investigating officer showed.

Turkish national Vang Shuiming is facing five charges — one of using a forged document and four of possessing criminal benefits worth S$2.4 million from unlicensed moneylending in China.

According to an affidavit from the lead police investigator against Vang, the 11 condominium units are under construction and have been served with prohibition of disposal orders.

The affidavit, which was produced for Tuesday's (Sept 5) court hearing, also showed that in addition to the 11 condominium units, Vang's assets included four properties and three vehicles with an estimated value of S$29 million.

Police investigations showed Vang has assets in Singapore amounting to more than S$200 million.

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On 9/6/2023 at 3:45 PM, The_King said:


Police investigations showed Vang has assets in Singapore amounting to more than S$200 million.

 

confirm mas sleeping on the job.

 

banks supposed to fill in kyc forms and report to mas.

 

usually the bank verification process will run thru the mas checkbox and if something  suspicious, especially if more than usd1m, alarm will be triggered.

 

wahahahahahahahahahaha

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23 hours ago, chamfer said:

I believe there is a bigger 'boss' behind this.

 

These guys are just 'prawns' or fallguys

 

12 hours ago, XianGe said:

 

Yup. Consperm the ring leader chilling somewhere... 

 

looking at the surnames of those arrested, obviously all r related and for some kumgong reason, all the money is parked in pappyland, which is unusual.

 

so most likely, most of the senior management has be caught.

 

as a professional launderer will diversify to prevent detection but not in this case.

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20 hours ago, socrates469bc said:

 

 

looking at the surnames of those arrested, obviously all r related and for some kumgong reason, all the money is parked in pappyland, which is unusual.

 

so most likely, most of the senior management has be caught.

 

as a professional launderer will diversify to prevent detection but not in this case.

Hello I am a beta king 

 

 

No fault please

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