"Billion-dollar money laundering case: Vang Shuiming fails in latest bid for bail, will claim trial
The value of assets seized in relation to Vang Shuiming's case is one of the highest among the 10 people charged."
https://www.channelnewsasia.com/singapor...%20charged.
(29-09-2023, 08:00 PM)p1acebo Wrote: [ -> ]Wang Yi beri effective.
Similarly, US COJ also very effective with 1MDB (MAS was only informed 3 years later after investigation) and Keppel KOM..
Question is what's happening with MAS?
(29-09-2023, 08:12 PM)p1acebo Wrote: [ -> ]Sleeping. Just like SGX 
"Totally Not Interested " ie the world's impression
(29-09-2023, 08:12 PM)p1acebo Wrote: [ -> ]Sleeping. Just like SGX
The S$2.4 billions money laundering is so large, it cannot simply happen overnight..
Only God knows when it started?
They only fast with oppo.
(29-09-2023, 08:34 PM)Klesk Wrote: [ -> ]They only fast with oppo.
All banks management staff engaged clients wealth management and dealing with treasury must sign the anti Money Laundering Act document yearly to be submitted to MAS.
Now, all mati
The way Drew and Napier lawyers desperately argue
Shows that these bastard lawyers are only interested in earning their millions $$$$
They do not care these criminals had been scamming so many victims, and will pose a massive danger once out
no wonder someone from mas tendered resignation before this became news
(29-09-2023, 08:34 PM)Scythian Wrote: [ -> ]The S$2.4 billions money laundering is so large, it cannot simply happen overnight..
Only God knows when it started?
The white pirates know when, where and how …. they just kept quiet. Easy $$ millions into our coffers without creating any actual harm. Only when big cannon come in and said … enough liow ok … then we stop them
(29-09-2023, 09:16 PM)Tangsen Wrote: [ -> ]The white pirates know when, where and how …. they just kept quiet. Easy $$ millions into our coffers without creating any actual harm. Only when big cannon come in and said … enough liow ok … then we stop them
2007 - 2017
April 2023 : British American Tobacco Plc has agreed to pay more than US$635 million to US authorities after a
Singapore subsidiary pleaded guilty to charges that it conspired to violate sanctions by selling tobacco products to North Korea and commit bank fraud.
No one in Singapore knew what's going on since 2007?
Quote:DEFENCE HIGHLIGHTS PRESUMPTION OF INNOCENCE, POINT OF BAIL
Lawyer Wendell Wong argued for his client to be released on bail, saying that the presumption of innocence is a "cornerstone of our criminal justice system" and that bail is to ensure attendance in court.
In order for bail to be given, Mr Wong said Vang was ready to take certain measures.
These include being placed on electronic tagging, being put on the immigration authority's blacklist and having his entire family surrender all their passports.
Mr Wong said the prosecution and the Commercial Affairs Department (CAD) were engaging in "a circle of self-fulfilling and speculative concerns" in an "echo chamber".
He highlighted discrepancies in the prosecution's arguments - the charges say Vang is involved in unlicensed moneylending, but his warrant of arrest in China is for online gambling.
Mr Wong pointed to the case of Ewe Pang Kooi, an accountant who faced the maximum of life imprisonment for embezzling millions of dollars but was still granted bail.
The prosecution had not indicated the jail term they would be seeking for Vang, whose offences have a cap of 10 years' jail per charge.
"The prosecution cannot simply allude to motherhood statements and say the charge is serious," said Mr Wong.
He said the prosecution cannot have its cake and eat it by saying that the court is not bound by strict evidential rules or findings of fact for bail reviews, yet say that Vang has to indicate his position on the charges.
"In essence, he will be contesting these charges ... and that is why he is asking for bail, so he can conduct his defence without being prejudiced," said Mr Wong.
He added that there was no assertion that Vang's passports were obtained illegally - he had obtained them by paying or investing money in accordance with each country's laws.
Vang will return for a pre-trial conference in October. He might face further charges, the prosecution said.
So stupiak dis Drew n Napier lawyer. Hope they managed to secure astronomical retainer fee from their money laundering client bcos he will definitely run road like J Lho once on bail.
(29-09-2023, 09:01 PM)p1acebo Wrote: [ -> ]Until someone kicks them
On record, it's the largest money laundering in Asia-Pacific history ..
Singapore sleeping ZZZzzz until Chinese fm activated the alarm clock ..
Incompetent
.
Reported Singapore banks are tightening oversight..
After 1MDB money laundering scandal, Why was there another oversight again in this time?
How many more oversights to be expected?
run to Taiwan will be safe.
(13-10-2023, 05:03 PM)Tee tiong huat Wrote: [ -> ]![[Image: happy-dance.gif]](https://i.ibb.co/3v300f8/happy-dance.gif)
https://sgtalk.net/Thread-CNA-News-Crypt...g-remanded
Mrs Teo pointed to two other major money laundering probes in Singapore undertook, which resulted in serious enforcement action:
One is 1MDB case resulted in seizure or prohibition of assets amounting to more than S$240 mil, the conviction of four bankers, including one who was sentenced to more than four years of imprisonment and shutting down of two private banks, the other is Wirecard case. A probe into irregularities in German company's financial statements, which involved of S'pore-based individuals and entities, 3-banks and an insurer in S'pore were issued penalties amounting to S$3.8 mil, 7-individuals were charged and 3 have been convicted for offences for money laundering.
"These examples leave no doubt S'pore takes money laundering seriously,” Mrs Teo said. When there is reasonable suspicion to investigate, we do not hesitate to do so. We do not turn a blind eye to any risks, when we become aware of them.
She noted if no cases were to be reported, that is not necessarily a sign that there are no $$$ laundering offences occurring in the system.
(13-10-2023, 05:12 PM)Tee tiong huat Wrote: [ -> ]Mrs Teo pointed to two other major money laundering probes in Singapore undertook, which resulted in serious enforcement action:
One is 1MDB case resulted in seizure or prohibition of assets amounting to more than S$240 mil, the conviction of four bankers, including one who was sentenced to more than four years of imprisonment and shutting down of two private banks, the other is Wirecard case. A probe into irregularities in German company's financial statements, which involved of S'pore-based individuals and entities, 3-banks and an insurer in S'pore were issued penalties amounting to S$3.8 mil, 7-individuals were charged and 3 have been convicted for offences for money laundering.
"These examples leave no doubt S'pore takes money laundering seriously,” Mrs Teo said. When there is reasonable suspicion to investigate, we do not hesitate to do so. We do not turn a blind eye to any risks, when we become aware of them.
She noted if no cases were to be reported, that is not necessarily a sign that there are no $$$ laundering offences occurring in the system.
In 1MDB case, it took US DoJ 3 years to investigate and
MAS didn't know anything until DoJ released results of their investigation in 2016.
Reported MAS MD Ravi Menon says it caused a dent to Singapore financial centre.
Similarly with Keppel KOM involvement in Brazil carwash biz. as early as 2001. It took US DoJ more than 5 years investigating the corruption case W/O Singapore's awareness. Reported KOM was fined US$422 mio ..
Today's $2.4 billions money laundering was not discovered until mid 2023.