Fourth man to plead guilty in S$3b money laundering case on April 30

SINGAPORE — A fourth man among the 10 persons allegedly involved in Singapore’s largest money laundering scheme is set to plead guilty on April 30. 

Zhang Ruijin, 45, will be pleading guilty to three charges of forgery.

According to charge sheets, he allegedly forged three documents that indicated he had borrowed funds from a Hong Kong firm and received money from the sale of two Macau properties.

These documents were used to cheat CIMB Bank.

The Chinese national, who is in remand, is represented by Mr Eugene Thuraisingam of Eugene Thuraisingam LLP.

Three of the 10 men involved in the S$3 billion money laundering case — Su Wenqiang, Su Haijin and Wang Baosen — have pleaded guilty and been sentenced.

The most recent case was Wang, 32. He was sentenced to 13 months’ jail on Tuesday for possessing almost S$600,000 in illegal proceeds in his wife’s bank account and for laundering S$14.9 million to buy a luxury apartment in Tomlinson Road.

Zhang has been refused bail thrice. The most recent was on Dec 11, 2023 where he sought bail by claiming the period he has been in remand had dragged on for too long.

For committing forgery, Zhang faces up to 10 years’ jail and a fine on each charge.