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SINGAPORE – The company owned by the wife of one of the accused in the $1.8 billion money laundering case was set up so that she could get an employment pass (EP) here.
This was revealed by Mr Seah Li Hao, a Commercial Affairs Department (CAD) officer, in an affidavit to support the prosecution’s application on Wednesday that no bail be granted to her husband, Wang Baosen.
The 31-year-old Chinese national faces two money laundering charges.
Assets worth more than $18 million have been seized or subjected to prohibition of disposal orders relating to his case. The orders mean they cannot be sold by the accused.
They include a black Toyota Alphard worth $284,000, more than $3.3 million in four bank accounts and one property worth $14.76 million.
These assets owned by Wang; his wife, He Huifang; and Hui Xia Technology Investment were seized or frozen.
The officer said He Huifang owns Hui Xia Technology Investment, where she is the sole director and shareholder.
Mr Seah said He Huifang claimed she is an investment consultant in the company, but his investigations revealed that the company was set up for the main purpose of obtaining an EP for her in Singapore.
The Straits Times reported on Aug 18 that all 10 of the foreign nationals charged in this case held either an EP or a dependant’s pass (DP), and were originally from the Fujian province in China.
The officer added Wang holds a DP linked to He Huifang’s supposed employment in Singapore.
Mr Seah noted that Wang has two passports, issued by China and Vanuatu.
The CAD officer said Wang is a high flight risk as his parents and brother live in China. Apart from his wife, Wang has no other direct family members in Singapore.
He Huifang’s two children from a previous relationship and her mother are in Singapore.
Mr Seah said according to Wang’s account, he has overseas sources of income, including one million yuan (S$189,230) of profits earned from his family’s tea plantation business in China between 2019 and 2023.
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