MAS issues prohibition orders against 2 ex-bankers involved in $3b money laundering case
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The Monetary Authority of Singapore (MAS) on Tuesday (March 17) issued prohibition orders against two former bankers who were convicted for their involvement in the $3 billion money laundering case in 2023.Former Citibank relationship manager Wang Qiming, 27MAS issues prohibition orders against 2 ex-bankers involved in $3b money laundering case
The Monetary Authority of Singapore (MAS) on Tuesday (March 17) issued prohibition orders against two former bankers who were convicted for their involvement in the $3 billion money laundering case in 2023.Former Citibank relationship manager Wang Qiming, 27, was given a 16-year prohibition order, while Liu Kai, 37, who was previously a relationship manager at Julius Baer, was given a prohibition order of seven years.Under the prohibition orders, Wang and Liu are not allowed to carry out any MAS-regulated or authorised activity of business.They are also barred from becoming, or increasing their interested as a substantial shareholder, of any financial institution that is a corporation.On Oct 23, 2025, Wang was convicted of four charges for forgery, money laundering and obstructing the course of justice. He was sentenced to 24 months’ imprisonment. Six other charges were taken into consideration during sentencing.A day later, Liu was convicted of one charge of using a forged tax document to defraud Bank Julius Baer. He was sentenced to four months’ imprisonment. Read more
