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On 23 October 2025, Wang Qiming (“Wang”), a 28-year-old male Chinese national, was convicted and sentenced to an imprisonment term of 24 months for the following offences:

1. Two counts under Section 468 of the Penal Code for forgery for the purpose of cheating the bank in which he was employed, Citibank Singapore Limited (“Citibank”);
   
   
2. One count of a money-laundering offence under Section 47AA of the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act (“CDSA”) involving the sum of S$481,678; and
   
   
3. One count under Section 204A of the Penal Code for obstructing the course of justice by deleting his WhatsApp application from his mobile phone, which contained his communication records with his Citibank clients.

The remaining six charges below were taken into consideration for the purposes of sentencing:

1. Two counts under Section 468 of the Penal Code for forgery of documents for the purpose of cheating Citibank;
   
   
2. One count under Section 468 read with Section 109 of the Penal Code for abetting by engaging in a conspiracy with one Su Baolin to forge a loan document for the purpose of cheating Standard Chartered Bank (“SCB”);
   
   
3. Two counts under Section 465 read with Section 471 of the Penal Code for fraudulently using documents as genuine; and 
   
   
4. One count under Section 182 of the Penal Code for lying to an ICA officer while intending to leave Singapore via Changi Airport, that he had lost his passport. 

Background of the case 

Investigations by the Commercial Affairs Department (CAD) found that Wang was a former relationship manager employed by Citibank. His clients included Su Haijin, Su Baolin (“Su”) and Vang Shuiming – three of the ten foreign nationals who were convicted and sentenced to imprisonment for money laundering and other offences.¹

On or around 8 December 2020, on Su’s request, Wang helped Su to arrange the sale of 1,499,980 units of cryptocurrency (in USDT) for Singapore dollars through a third-party sales agent. To add legitimacy to the corresponding deposits of the sale proceeds, Wang agreed with Su to arrange for the payments to be made over a few tranches from a remittance company to Su’s SCB account.

The first tranche of 499,980 units of USDT was sold for S$657,980 and was eventually deposited into Su’s SCB account by a third-party individual named “Se Liang”. Neither Wang nor Su knew who “Se Liang” was. Wang conspired with Su to forge a “borrowing agreement”, to deceive SCB that the said deposit from “Se Liang” was a loan repayment, which Wang knew was not the case. The charge in relation to the forgery of this document was taken into consideration for the purposes of sentencing.

As the payment into Su’s bank account was made through the individual “Se Liang”, and not through a remittance company as Su had instructed, Su asked Wang to cancel the sale of the remaining cryptocurrency. However, by then, a second tranche of 364,908 units of USDT had already been sold. Su then instructed Wang to collect the proceeds amounting to S$481,678 in cash from the sales agent on 15 Dec 2020. Despite the suspicious circumstances surrounding the sale of the cryptocurrency, Wang collected the sum of S$481,678 in cash on behalf of Su on the same day. Wang was unable to provide a satisfactory account for how he came by the said cash of S$481,678, which was reasonably suspected of representing Su’s benefits from criminal conduct of unlawful remote gambling offences.

 Wang also forged three remittance receipts between 16 February 2021 and 4 July 2021. He had done so with the intent to cheat Citibank into believing that the deposits into his clients’ bank accounts, ranging from S$999,980 to S$1,999,980, were substantiated by remittance receipts. After forging the remittance receipts, he submitted them to Citibank’s anti-money laundering team to substantiate the said deposits. 

On 12 October 2021, just minutes after the Police had established contact with Wang for investigations, Wang deliberately deleted the WhatsApp application on his mobile phone to prevent the Police from accessing his WhatsApp messages that contained evidence that incriminated him.

Director of the CAD, Mr. David Chew, said, “We take a zero-tolerance stance against financial professionals and intermediaries who knowingly abet their clients to abuse Singapore’s financial system to commit crimes or launder illicit proceeds. Banks, as important gatekeepers of our financial system, have an important duty to detect and turn away criminal funds. We rely on the integrity of bankers and relationship managers in particular, as the interface between clients and the financial system, to do this. We will take firm action against financial gatekeepers who abuse their professional expertise to help clients circumvent their financial institutions’ due diligence processes or launder criminal proceeds.”

¹Police News Releases dated 4 April 2024, 29 April 2024 and 14 May 2024. Su Haijin, Su Baolin and Vang Shuiming have since completed their sentences. They were deported on 28 May 2024, 25 May 2024 and 1 June 2024 respectively, and barred from re-entering Singapore