Court Cases
2nd Singaporean charged in S$3B money laundering scandal for forgery and falsifying accounts
Wang Junjie, a Shanghai-born Singaporean, faces 15 charges in a S$3 billion money laundering case, including forgery and falsifying accounts. The former director of LW Business Consultancy is accused of conspiring with convicted foreigners Su Haijin and Su Baolin.

SINGAPORE: A Shanghai-born Singaporean, Wang Junjie, 42, was charged on Thursday (23 January) with 15 offences, including forgery and falsifying accounts, in connection with a S$3 billion (US$2.2 billion) money laundering case.
Wang, a Bedok resident, is the second Singaporean to face charges in one of the country’s largest anti-money laundering operations.
His alleged crimes are closely tied to two Fujian-origin foreigners, Su Haijin and Su Baolin, who were convicted and sentenced last year.
Connections to Su Haijin and Su Baolin
Wang previously served as the director of LW Business Consultancy (LWBC), a corporate service provider engaged by Su Haijin and Su Baolin to manage secretarial services for two shell companies—Yihao Cyber Technologies and Xinbao Investments Holdings.
These companies were allegedly instrumental in laundering the proceeds of their criminal activities.
According to authorities, Wang acted as a director, secretary, and shareholder in at least 185 companies.
He also had his registration as a qualified individual (RQI) revoked by the Accounting and Corporate Regulatory Authority (Acra) in January 2024 due to breaches of anti-money laundering and terrorism financing controls.
Police investigations revealed Wang’s long-standing involvement in Singapore’s corporate sector, with links to around 400 companies since 2014.
Wang Accused of Falsifying Financial Statements and Forging Documents
Among the 15 charges, Wang faces four counts of conspiring with Su Haijin to falsify Yihao Cyber Technologies’ financial statements from 2019 to 2022.
These included fraudulent representations of the company’s revenue, gross profit, and trade receivables.
He is also accused of working with Su Haijin to provide false financial figures to the Inland Revenue Authority of Singapore (IRAS) and the Ministry of Manpower (MOM).
Additionally, Wang allegedly forged an agreement between Yihao Cyber Technologies and SG-Gree, submitting it to DBS Bank to open an account for the shell company.
Wang’s role as a director of Xinbao Investments Holdings also resulted in three charges related to submitting false financial numbers to IRAS for the years 2019 to 2021.
He is further accused of submitting fraudulent documents to OCBC Bank during its investigation of certain transactions.
The remaining two charges pertain to Wang’s failure to act honestly as a director of Yihao Cyber Technologies and Xinbao Investments Holdings.
Investigation and Prosecution
David Chew, Director of the Commercial Affairs Department, warned that criminals exploit corporate structures to hide illicit proceeds and hinder law enforcement efforts.
“Professional intermediaries must exercise professional care when dealing with customers and report suspicious transactions.”
Chew emphasised that corporate service providers who conspire with clients to cheat financial institutions or misrepresent companies’ finances will be held accountable.
Liew Yik Kit, 1st Singaporean charged in S$3B money laundering case for aiding fugitive
Su Haijin and Su Baolin, Wang’s associates, were among ten individuals convicted last year in the same case.
Both men received 14-month jail terms and forfeited a combined S$230 million to the state before being deported in May 2024.
In August 2024, the first Singaporean charged in the scandal was Liew Yik Kit, a personal driver to Cambodian national Su Binghai linked to the investigation.
Liew’s case remains pending, while Su fled and is wanted for his alleged involvement.
The authorities continues to investigate the role of registered filing agents and qualified individuals implicated in this extensive money laundering operation.
Wang has been granted bail of S$50,000 and is scheduled to return to court on 6 March.

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