[ad_1]
SINGAPORE – A number of Singaporeans who helped set up firms for individuals linked to the $2.8 billion money laundering case have started removing their names from the companies, amid an investigation by the Accounting and Corporate Regulatory Authority (Acra).
They were previously listed as directors, secretaries or shareholders of companies set up by several of the foreigners nabbed in the Aug 15 anti-money laundering blitz.
In total, the Commercial Affairs Department (CAD) arrested nine men and one woman.
The Singaporeans were also listed in firms incorporated by associates of those arrested, including the wives of some of the accused.
Acra confirmed with The Straits Times that it has contacted a number of corporate service providers (CSPs) in an ongoing probe relating to the money laundering case.
Foreigners are required to engage a registered filing agent, including CSPs, to incorporate a company in Singapore.
They must also appoint at least one director who is living in Singapore. He can be a citizen, permanent resident, or entrepreneur pass or employment pass holder.
Corporate service provider Grof, formerly named Sprout, said it commenced termination of services with several companies on Aug 24. The exercise was completed by early September.
Mr Jackson Lim, co-founder of Grof, said fewer than five companies were involved, but declined to provide the exact number.
“When the news broke, we did our internal checks to see if we had any clients that were related to the 10 accused,” said Mr Lim, who ST learnt was registered as secretary or director of about 1,400 live companies.
He said he found his name listed as secretary or director of firms linked to three associates of the accused persons.
ST had earlier reported the names of 24 people linked to the 10 accused. They were on a list the Ministry of Law (MinLaw) sent to traders of precious metals and stones, to flag for suspicious transactions.
“When The Straits Times published the names of the associates, we used it in collaboration with our internal checks, which was very helpful,” said Mr Lim.
[ad_2]
Source link