Billion-dollar money laundering case: Bedok resident has role in 185 companies

Nine of the firms are linked to three of the 10 individuals charged in the case

- Nadine Chua and Andrew Wong

The listing of a Singapore resident as director, secretary and shareholder of 185 companies here has sparked concerns, after it emerged that several of the firms were linked to three of the 10 money laundering suspects arrested on Aug 15 and subsequently charged.

Experts say it is not possible for an individual to be involved in so many companies, adding that such appointments should raise a red flag.

Foreigners without a Singpass account must engage a registered filing agent, such as a law firm, an accounting practice or a corporate secretarial company, to submit applications on their behalf.

All agents are required to carry out a due diligence check on their clients' source of wealth and funds.

Bedok resident J.J, who runs a firm that provides secretarial services, was previously appointed as director, secretary or shareholder of 224 companies, including those involved in investment, technology, consultancy and pharmaceutical trade.

A third of the companies have been struck off the Accounting and Corporate Regulatory Authority (Acra) business registry.

Of the 185 companies that are still active, nine list Su Haijin, Su Baolin and Vang Shuiming, who is also known as Wang Shuiming, as director or shareholder.

The three foreign nationals originally from China have been charged in court with various offences including money laundering, forgery and resisting arrest.

Acra records showed that J.J. was appointed director, secretary or shareholder of the same nine companies.

His name appeared more than once in two of the companies, which means that he held multiple positions in these firms.