Fifth man gets 15 months' jail - longest term so far

45-year-old laundered a total of 36m, the most among five people convicted thus far

- Nadine Chua and Wong Shiying

Zhang Ruijin, an accused in the $3 billion money laundering case who told the court to put his lover in remand after their arrest, has been sentenced to 15 months' jail.

This is the highest jail term meted out in the case so far. With a one-third remission, he is likely to be out of prison by June.

The 45-year-old Chinese national, who also holds a passport issued by Saint Kitts and Nevis, is the fifth person to plead guilty in the case.

Zhang has agreed to forfeit about $18 million, or around 90 per cent, of his assets to the state, said his lawyer Eugene Thuraisingam.

Deputy Public Prosecutor Ryan Lim said $131 million worth of assets, cash, vehicles and cryptocurrency in the names of Zhang and his mother have been seized by the authorities.

Zhang laundered a total of $36 million, the highest sum among the five people convicted in the case so far.

On April 30, he admitted to one money laundering charge and two forgery charges.

Five other charges were taken into consideration during sentencing.

Zhang has been in remand for over eight months since he and his lover, Lin Baoying, were arrested on Aug 15, 2023, in a bungalow on Pearl Island in Sentosa Cove.

On April 30, DPP Lim said that between July and October 2020, Hong Kong company Beiyin deposited over HK$138 million (S$24 million) into Zhang's CIMB Bank account in Singapore.

The prosecutor said that according to Zhang, the deposits were for him to buy property in Singapore.

At the time, Zhang was in Singapore on an employment pass and had no verifiable sources of income.

The bank asked him to explain the source of the deposits and provide documentation.