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On 16 July 2026, Wang Junjie (“Wang”), a former director of former corporate service provider, was sentenced to 32 weeks’ imprisonment for offences connected with the major money laundering case, and disqualified from acting as a director for a period of five years.¹ On the same day, Chan I-Fei Julia (“Chan”), a conveyancing lawyer, was charged in court for engaging in a conspiracy to forge a document relating to the purchase of a real estate property that is linked to the same case.

Wang’s case

Wang was the director of a local corporate service provider, LW Business Consultancy Pte Ltd (“LW Business Consultancy”). LW Business Consultancy was engaged by Su Haijin and Su Baolin, two of the ten foreign nationals who were convicted and sentenced to imprisonment for money laundering and other offences, to provide corporate secretarial services for their respective Singapore-incorporated companies, Yihao Cyber Technologies Pte Ltd (“Yihao”) and Xinbao Investment Holdings Pte Ltd (“Xinbao”). 

Wang was appointed as a director of Xinbao between 2 August 2018 and 22 December 2023, and as a director of Yihao between 3 January 2021 and 7 February 2022.

Investigations revealed that Wang had engaged in a conspiracy with Su Haijin to falsify the revenue, gross profit and trades receivables of Yihao’s financial accounts for the financial years from 2019 to 2022. Wang thereafter used the falsified financials of Yihao to make false representations to the Inland Revenue Authority of Singapore (“IRAS”) and Ministry of Manpower (“MOM”) on four separate occasions. He also forged a software development agreement between Yihao and SG-Gree Pte Ltd (“SG-Gree”), which was submitted by Su Haijin to DBS Bank Limited to facilitate a bank account opening for Yihao. SG-Gree is partially owned by both Su Haijin and Su Baolin.

Wang had similarly engaged in a conspiracy with Su Baolin to make false representations to IRAS about the revenue, gross profit and trades receivables of Xinbao’s financial accounts for the financial years from 2019 to 2021 and submitted false documents to OCBC Bank Limited in response to the bank’s queries on certain transactions.

On 23 January 2025, Wang was charged with 15 offences in total. These comprised four counts of conspiring to falsify accounts, seven counts of conspiring to make false representations to IRAS and MOM regarding the financials of Yihao and Xinbao, one count of forging a document to cheat DBS Bank, one count of submitting documents he had reason to believe were forged to OCBC, and two counts of failing to act honestly as a director of Yihao and Xinbao under the Companies Act 1967.

On 3 June 2026, Wang pleaded guilty and was convicted on two charges – one for conspiring with Su Haijin to make false representations to IRAS about Yihao’s financials, and one for failing to act honestly in the discharge of his duties as the director of Yihao. The remaining 13 charges were taken into consideration for sentencing. Wang was sentenced to an imprisonment of 32 weeks on 16 July 2026.

Chan’s case

Chan acted as the conveyancing lawyer for the purchase of a commercial property located at Amoy Street and a residential unit located at South Beach Residences. These properties were purchased by the spouse of Su Yongcan, who is one of the absconded foreign nationals investigated by the Police in the major anti-money laundering case. 

Based on Police’s investigations, Chan is believed to have conspired with an employee of the law firm to forge a “Know Your Client” form in December 2023, in relation to the purchase of the unit at South Beach Residences. 

On 16 July 2026, Chan was charged with one count of an offence of abetment by conspiracy to commit forgery, under Section 465 read with Section 109 of the Penal Code. If convicted, she faces imprisonment for a term of up to four years, or a fine, or both.

Director of the Commercial Affairs Department, Ms. Peggy Pao, said, “Singapore takes a serious view of the laundering of criminal proceeds through our financial system. Professional intermediaries such as corporate service providers and conveyance law firms are important gatekeepers of our financial system and must adhere to the compliance systems put in place to detect and report criminal funds. Those who help clients circumvent due diligence processes or who help clients forge documents, must be dealt with robustly under our laws.”

¹LW Business Consultancy’s corporate service provider registration was cancelled by the Accounting and Corporate Regulatory Authority (ACRA) on 18 January 2024 in view of breaches of Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) controls. For more details, please refer to ACRA’s media release.