Synopsis: On 15 August 2023, 10 individuals were arrested in Singapore for their suspected involvement in offences of forgery, money laundering, and resistance to lawful apprehension. To-date, assets worth more than SGD$2.8 billion were seized or frozen.As Singapore’s largest billion-dollar money laundering case continues to unfold, more hidden connections among the arrested suspects have surfaced and the authorities are heightening efforts to apprehend parties involved in this multinational syndicate.
Part One: Companies directly linked to Su Haijin and Su Baolin
As reported in the media, Su Haijin and Su Baolin are connected via two companies, namely SG-GREE PTE. LTD. and MEINING (ASIA) INTERNATIONAL ELECTRONIC COMMERCE PTE. LTD.. Apart from the companies they each are associated with, the Handshakes APP is able to uncover other interconnected relationships among various stakeholders within the network of organisations.
Part Two: How are Zhang Ruijin, Lin Baoying and Wang Shuiming connected?
Similarly to what we’ve observed in the first map between Su Haijin and Su Baolin, multiple companies can be seen linked to the three subjects in this map. While some companies have been named by the media, others are unreported.
What we found interesting are the interconnected relationships amongst the entities involved with several linkages between them. With such an intricate network of connections, the question lies in the motivation and intentions behind such a complex corporate structure. Do such relationships matter in due diligence checks? Identifying critical datapoints and connections are important safeguards of your business interests against parties who may be involved in external investigations.
Part Three: Indirect connections with Chen Qingyuan, Su Jianfeng, Wang Dehai and Su Yongcan
While it seems like common practice for businesses to perform due diligence checks on key appointment holders such as shareholders and directors, how many assess other official positions within an organisation?
Through Handshakes, other key appointment holders and officers such as Chairman, President, etc can be uncovered and clearly mapped out, allowing for a more comprehensive analysis of each subject. What’s more, Handshakes’ capabilities in merging multiple datasets to present a holistic overview is key to investigations or background checks.
Part Four: Investigations involving Wang Baosen and Su Wenqiang
Having shed light on eight of the ten subjects in our three previous maps, the Handshakes APP further mapped out the remaining two subjects, Wang Baosen and Su Wenqiang, being the targets of additional investigations by the Chinese authorities involving illegal gambling activities.
Data from Handshakes’ Capital Markets sources are able to disclose connections beyond the local jurisdiction, including entities connected to enforcement actions by regulatory bodies (e.g. reprimands, fines and other disciplinary measures) appearing in RED.
How do such insights impact organisations? Having visibility of these connections helps businesses in risk mitigation, enhances due diligence and allows for quicker responses to changes in the business environment.
Follow our page to check out upcoming posts and discover the complex connections in this high profile case.
Empowering companies to do business safely, the Handshakes APP is an award-winning relationship analysis tool which visualises official company registry records into network maps for use in background checks, due diligence and KYC needs. Find out more at https://bit.ly/3EUzqSO.