Fifth man in $3b money-laundering case jailed 15 months, with $118m in assets surrendered to state
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SINGAPORE — Zhang Ruijin, an accused in the $3b money laundering case who told the court to put his lover in remand after their arrests, has been sentenced to 15 months' jail. This is the highest jail term meted out in this case so far. The 45-year-old ChFifth man in $3b money-laundering case jailed 15 months, with $118m in assets surrendered to state
SINGAPORE — Zhang Ruijin, an accused in the $3b money laundering case who told the court to put his lover in remand after their arrests, has been sentenced to 15 months' jail. This is the highest jail term meted out in this case so far. The 45-year-old Chinese national, who also holds a passport issued by Saint Kitts and Nevis, is the fifth person to plead guilty in this case. Zhang has agreed to forfeit about $118 million, or around 90 per cent, of his assets to the state, said his lawyer Eugene Thuraisingam. Deputy Public Prosecutor Ryan Lim said $131 million worth of assets, cash, vehicles and cryptocurrency belonging to Zhang have been seized by the authorities. On April 30, Zhang, who laundered a total of $36 million, admitted to one money laundering charge and two forgery charges. Five other charges were taken into consideration during sentencing. He has been in remand for over eight months since he and his lover, Lin Baoying, were arrested on Aug 15, 2023, in a bungalow on Pearl Island on Sentosa Cove.