The last accused in Singapore's largest money laundering case — a multi-billion-dollar affair involving 10 people and assets worth over S$3 billion — has been jailed.

Su Jianfeng, a 36-year-old Vanuatu national, was sentenced on Jun. 10 to 17 months' jail for forgery and money laundering offences.

At the time of his arrest in his Third Avenue good class bungalow, he had 13 properties and four cars with an estimated value of more than S$120 million.

Police also seized from him 95 pieces of jewellery, 69 luxury bags and watches, 22 electronic devices, and two gold bars.

Nine other foreign nationals were previously convicted and sentenced in Singapore court.

They were arrested in 2023 in a large-scale police raid which covered GCBs and condominiums islandwide, that concluded with one man jumping off a balcony to escape arrest.

The 10 foreigners, all of whom are of Chinese origin, consisted of three Cambodian nationals, three Chinese nationals, two Cypriot nationals, one Turkish national and one Ni-Vanuatu national.

Illegal gambling business

According to a Jun. 10 news release, the police seized a total of about S$187 million worth of assets belonging to Su, his wife, and their companies.

Investigations revealed that he had been involved in an illegal remote gambling business overseas, which he helped advertise and manage.

He had also submitted forged documents to his bank relationship managers for around three years.

Of the amount seized, about S$179 million was ordered to be forfeited to the state.

This brings the amount forfeited to the state in this case to S$944 million, out of the over S$1 billion that was seized from all 10 criminals.

Law Minister K Shanmugam said on May 7 that over S$640,000 was spent to store, maintain, and safeguard the seized assets, which included branded bags, watches, and bottles of liquor and wine.

More investigations ongoing

Police said investigations are still ongoing against 17 other people who are not in Singapore.

Chief prosecutor Tan Kiat Pheng called the case "one of the largest... that Singapore has prosecuted".

"The swift persecution of these 10 cases is a strong message to would-be criminals that Singapore will not tolerate attempts to flout our laws," he said.

"We will take firm and swift action against those who exploit our system to launder illicit gains or commit white-collar crimes."

In response to Mothership's queries, the police said that non-cash assets will be sold via means, such as through auctions.

The proceeds, along with forfeited cash, will be deposited into Singapore's consolidated fund, analogous to a bank account held by the government.

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Top image from SPF/Facebook