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Ex-Citibank Banker Gets 2 Years in Singapore’s $3 Billion Money-Laundering Case

Prosecutors said his forged receipts defeated Citibank’s anti-money-laundering checks, heightening the risk of tainted funds entering the system.

Overview

  • Wang Qiming, 28, pleaded guilty to two forgery charges, one money laundering charge and one count of obstructing justice, and was sentenced to 24 months’ jail on Oct 23.
  • He forged or submitted forged transaction documents on seven occasions for five clients covering deposits of more than S$8.5 million in order to satisfy internal Requests for Information.
  • Court records say he delivered about S$481,678 in cash to Cambodian national Su Baolin and served clients that included Vang Shuiming and Su Haijin.
  • District Judge Chay Yuen Fatt called his conduct egregious as he subverted bank safeguards; prosecutors sought 24 to 30 months while the defence signalled an appeal.
  • Investigators found he had deleted WhatsApp from his phone, preventing retrieval of messages, and evidence showed he fabricated remittance receipts using online templates and Microsoft Word; 10 foreign nationals tied to the wider probe were jailed in 2024 for 13 to 17 months, and a former Julius Baer banker, Liu Kai, is listed to plead guilty on Friday.