28 properties part of 530m in cash, assets seized from duo who fled

More than $530 million in cash and assets, including 28 properties, have been issued with prohibition of disposal orders or seized from two foreigners who have fled the country.

- Andrew Wong

The police said in a statement on May 22 that the men, aged 37 and 39 years old, are part of the $3 billion money laundering probe.

"Both men had left Singapore prior to the police's investigations against them, and are currently not in Singapore," the police said.

Although they did not identify the suspects, The Straits Times understands the individuals are businessmen Su Shuiming and Su Shuijun.

A report earlier in May by ST and the investigative journalism group Organised Crime and Corruption Reporting Project (OCCRP) exposed the business and property holdings of the two China-born individuals who left Singapore abruptly in 2023.

The report revealed that Su Shuiming and Su Shuijun were placed on the wanted list in China just weeks after the August 2023 anti-money laundering operation in Singapore led to the arrest of 10 foreigners.

Company records in Britain show that Su Shuiming was born in February 1985, which would make him 39 years old in 2024, and Su Shuijun was born in December 1986, which means he is 37 years old.

ST contacted the police then to confirm that the men were linked to the case in Singapore, but a spokesman declined to say if they are involved in or assisting with any investigations in the Republic.

In their May 22 statement, the police said that they took control of about $530 million worth of assets belonging to the two men in late 2023.

They added that the items form part of the more than $3 billion worth of assets seized or issued with prohibition of disposal orders in the case.