Brother of $3b money laundering convict jailed for a year, forfeits $10m Sentosa bungalow
Zhang Ruisheng, a Chinese national, received a 12-month prison sentence for possessing over $17 million in criminal proceeds. This follows a larger money laundering case involving $3 billion and ten foreigners. Ruisheng agreed to forfeit a property in Sentosa valued at approximately $10 million. He also surrendered a luxury Toyota Vellfire worth around $400,000. In Singapore, he worked as an employment adviser for Golden Eagle Family Office. The office directors were his brother, Zhang Ruijin, and sister-in-law, Lin Baoying.
The brother of Zhang Ruijin — one of 10 foreigners convicted in the $3 billion money laundering case — has been sentenced to 12 months' jail for possessing over $17 million in criminal proceeds.Zhang Ruisheng, 54, was found guilty on Monday (Oct 19) and agreed to forfeit his property at Sentosa, 69 Cove Drive, valued at around $10 million.He also surrendered his Toyota Vellfire, a high-end luxury multi-purpose vehicle valued at around $400,000, according to SgCarMart.Ruisheng, a Chinese national, was in Singapore on a work pass under Golden Eagle Family Office as an "employment adviser".Golden Eagle's directors were his younger brother Ruijin and Ruijin's wife, Lin Baoying, CNA reported. Both of them were involved in the $3 billion money laundering case in 2023.According to court documents seen by AsiaOne, Ruisheng received around $17.6 million in his CIMB account across 11 transfers between August 2020 and September 2020.