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Jail for man who used $1.5b in criminal proceeds to buy nearly 28,000 gold bars
October 02, 2025
|The Straits Times
A man who bought nearly 28,000 gold bars after receiving more than $1.5 billion in proceeds from a foreign crime was sentenced to five years' jail on Oct 1.
South Korean Kim Taek-hoon, 64, sent more than 23,500 of the gold bars, hidden inside industrial tools, to his home country and to Japan.
He had earlier pleaded guilty to three counts of cheating one involving Singapore Customs and two linked to logistics service providers.
He also pleaded guilty to one count each of money laundering and receiving more than $20,000 in cash from overseas without alerting the authorities.
The prosecution said Kim did not know the ultimate source of the money, but he believed that the funds were sent to him as part of an "illegal activity". Details of the proceeds of this overseas crime were not disclosed in court documents.
Kim received around $1 million for his involvement in the scheme.
هذه القصة من طبعة October 02, 2025 من The Straits Times.
اشترك في Magzter GOLD للوصول إلى آلاف القصص المتميزة المنسقة، وأكثر من 9000 مجلة وصحيفة.
هل أنت مشترك بالفعل؟ تسجيل الدخول
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