Brother of convict in S$3 billion money laundering case jailed over receiving S$17.6 million

Zhang Ruisheng used about S$10.4 million to pay for the purchase price and stamp duty for a property in Sentosa Cove.

The State Courts of Singapore. (File photo: CNA/Jeremy Long)

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SINGAPORE: The older brother of a convict in the S$3 billion (US$2.3 billion) money laundering case has been sentenced to 12 months' jail over the receipt of more than S$17 million in criminal proceeds.

The sum was used to buy a luxury bungalow in Sentosa, among other things.

Zhang Ruisheng, a 54-year-old Chinese national, pleaded guilty on Monday (Oct 19) to one count of possessing the benefits of criminal conduct.

His younger brother, Zhang Ruijin, was one of the 10 original criminals arrested over the billion-dollar money laundering case and had been sentenced to 15 months' jail in 2024 for forgery and money laundering.

Ruisheng was in Singapore on a work pass and was purportedly employed by Golden Eagle Family Office as an "investment advisor".

Golden Eagle's directors were his younger brother Ruijin and Ruijin's wife, Lin Baoying. Lin was the sole female among the 10 sentenced in the billion-dollar case, where 10 criminals from China laid roots in Singapore and ran illegal gains through the country's financial system.

She had also been sentenced to 15 months' jail for her role in 2024.

The Commercial Affairs Department (CAD) began investigations against Ruisheng in August 2023 on suspected forgery offences over documents he had submitted to a bank justifying large deposits into his bank account in 2020.

CAD seized a Toyota Vellfire and issued a prohibition order against a property at 69 Cove Drive, Sentosa, which Ruisheng owned in his sole name.

Ruisheng had a CIMB bank account in Singapore that was opened on Aug 20, 2020, with an opening balance of S$250,000.

His brother and sister-in-law also had bank accounts with CIMB and shared the same relationship manager as Ruisheng.

Between August 2020 and September 2020, Ruisheng received 11 inward transfers from foreign sources totalling about S$17.6 million into his CIMB bank account.

These were from two companies called Beiyin and Han Li.

The large transfers made shortly after the account was opened triggered a transaction monitoring alert within CIMB, and the relationship manager approached Ruisheng seeking more information on the source of funds, in line with the bank's compliance measures.

Around Sep 9, 2020, Ruisheng explained that the transfers were due to the sale of a property in Macau.

He submitted a sales and purchase agreement dated Aug 8, 2020 linked to the purported sale of a commercial property in Macau from himself to a Wang Jian.

The sales and purchase agreement was purportedly signed by Ruisheng and Wang Jian, bearing the company stamp of Beiyin. The agreement stated that the property was sold for HK$87.7 million (S$14.3 million).

Around Sep 23, 2020, Ruisheng submitted a loan agreement to the relationship manager. The agreement purportedly showed that he had loaned S$6 million to Han Li and was due to receive repayments in two tranches of S$3 million within six and 12 months of the agreement date.

He claimed this was a friendly loan, with no interest charged.

The relationship manager conveyed Ruisheng's explanation and documentation to CIMB's financial crime analytics team.

However, the two documents were discovered to be forged.

Ruisheng later admitted that he never had any dealings with the two companies and had never owned any properties in Macau.

He also said he had never even heard of the two companies and claimed he had not signed the documents.

His brother, Ruijin, had been convicted of using the forged sales and purchase agreement as genuine.

MONEY USED ON PROPERTY

Ruisheng had used the money he received to buy property. He used about S$10.4 million to pay for the purchase price and stamp duty for a property at 69 Cove Drive between September and October 2020.

After the purchase was completed, CIMB decided to terminate the banking relationship with Ruisheng based on their review of the transactions and documents provided.

Before the account was closed, Ruisheng issued a cheque to withdraw the remaining balance of almost S$5 million in the account.

He later issued another cheque in March 2021 for the sum of S$2.1 million from another bank to pay for part of the 20 per cent deposit for the purchase of a property at 79 Cove Drive.

The property at 79 Cove Drive was held in the sole name of Ruisheng's other brother, Zhang Ruicai.

Ruisheng later failed to give a satisfactory account for how he came by the S$17.6 million in his CIMB account.

He agreed to have the seized Toyota Vellfire and the 69 Cove Drive property forfeited to the state.

Ruisheng's brother Ruijin had been ordered to forfeit around S$118 million of his assets to the state, about 90 per cent of the assets originally seized by the police.

Deputy Public Prosecutor Jordon Li sought 13 months' jail, comparing Ruisheng's case with his brother Ruijin's.

Mr Li said both brothers had used essentially the same forged document to justify the transfers into their respective bank accounts.

He said money laundering is a serious offence that enables criminals to receive, withhold and enjoy the proceeds of their crimes.

Ruisheng was represented by Mr Julian Tay and Mr Anthony Wong from Lee & Lee.

Mr Tay pointed to his client's "limited role" in the criminal enterprise and the "significant" surrender of his assets.

"At the very minimum, it evinces his remorse," said the lawyer, adding that his client was a "mature first-time offender" who otherwise led a "law-abiding life".

For possessing property that represents the benefits of criminal conduct, Ruisheng could have been sentenced to a maximum of three years' jail, a fine of up to S$150,000, or both.

As his charge contained multiple instances, the maximum penalties were doubled.

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张瑞生用约 1040 万新元支付了圣淘沙湾一处房产的购买价款和印花税。

新加坡国家法院。（资料照片：CNA/Jeremy Long）

这段音频由人工智能工具生成。

新加坡：一名涉案金额高达 30 亿新元（23 亿美元）的洗钱案罪犯的哥哥因收受超过 1700 万新元的犯罪所得而被判处 12 个月监禁。

这笔钱被用于购买圣淘沙岛的一栋豪华别墅等物品。

54岁的中国公民张瑞生于周一（10月19日）承认犯有一项持有犯罪所得的罪名。

他的弟弟张瑞金是最初因数十亿美元的洗钱案被捕的 10 名罪犯之一，并于 2024 年因伪造和洗钱罪被判处 15 个月监禁。

瑞生持工作准证在新加坡，据称受雇于金鹰家族办公室担任“投资顾问”。

金鹰公司的董事是他的弟弟瑞金和瑞金的妻子林宝英。林宝英是这起涉案金额高达数十亿美元的案件中被判刑的10人中唯一的女性。这起案件中，10名来自中国的犯罪分子在新加坡扎根，并通过该国的金融系统非法敛财。

她还因在 2024 年的角色而被判处 15 个月监禁。

2023年8月，商业事务处（CAD）开始对瑞生展开调查，怀疑他伪造文件，向银行证明其在2020年向银行账户存入大笔款项是合理的。

CAD 查封了一辆丰田 Vellfire，并对瑞生名下位于圣淘沙 Cove Drive 69 号的房产发出了禁止令。

瑞生在新加坡有一个 CIMB 银行账户，该账户于 2020 年 8 月 20 日开立，初始余额为 250,000 新元。

他的哥哥和嫂子也在 CIMB 银行开户，并且和瑞生共用一位客户经理。

2020 年 8 月至 9 月期间，瑞生的 CIMB 银行账户收到了 11 笔来自境外的汇款，总额约为 1760 万新元。

这些产品来自北银和韩力两家公司。

账户开立后不久发生的大额转账触发了 CIMB 的交易监控警报，客户经理根据银行的合规措施，联系了瑞生，以了解资金来源的更多信息。

2020 年 9 月 9 日左右，瑞生解释说，这些转账是由于出售澳门的一处房产所致。

他提交了一份日期为 2020 年 8 月 8 日的买卖协议，该协议涉及他本人将澳门的一处商业地产出售给王健。

据称，买卖协议由瑞生和王健签署，并盖有北银公司的印章。协议显示，该物业的售价为8770万港元（1430万新元）。

2020年9月23日左右，瑞生向客户经理提交了一份贷款协议。该协议据称显示，他已向韩立借出600万新元，并应在协议生效后的6个月和12个月内分两期收取300万新元的还款。

他声称这是一笔友好借贷，不收取利息。

客户经理将瑞生的解释和文件转达给了 CIMB 的金融犯罪分析团队。

然而，经查明，这两份文件均为伪造。

瑞生后来承认，他从未与这两家公司有过任何业务往来，也从未在澳门拥有过任何房产。

他还表示自己从未听说过这两家公司，并声称自己没有签署过这些文件。

他的兄弟瑞金曾因使用伪造的买卖协议作为真实协议而被定罪。

用于房产的资金

瑞生用收到的钱购买了房产。2020年9月至10月期间，他用约1040万新元支付了科夫大道69号房产的购买价款和印花税。

收购完成后，CIMB 根据对交易和所提供文件的审查，决定终止与瑞生银行的银行关系。

在账户关闭之前，瑞生开具了一张支票，取走了账户中剩余的近 500 万新元余额。

2021 年 3 月，他又从另一家银行开出一张 210 万新元的支票，用于支付购买 79 Cove Drive 房产 20% 定金的一部分。

科夫路 79 号的房产登记在瑞生的另一个兄弟张瑞才名下。

瑞生后来未能就其 CIMB 账户中的 1760 万新元的来源给出令人满意的解释。

他同意将扣押的丰田 Vellfire 和 69 Cove Drive 房产没收归国家所有。

瑞生的哥哥瑞金被勒令向国家上缴约 1.18 亿新元的资产，约占警方最初查获资产的 90%。

副检察官李乔丹要求判处瑞生 13 个月监禁，并将瑞生的案件与其哥哥瑞金的案件进行了比较。

李先生说，两兄弟都使用了几乎相同的伪造文件来证明向各自银行账户转账的合理性。

他说，洗钱是一种严重的犯罪行为，它使犯罪分子能够接收、扣留和享受其犯罪所得。

瑞生公司由李氏律师事务所的郑俊杰先生和黄安东先生代表。

Tay先生指出他的当事人在该犯罪活动中扮演的“角色有限”，并且“大量”放弃了其资产。

律师说：“至少这表明他感到懊悔。”他还补充说，他的当事人是一位“成熟的初犯”，除此之外一直过着“守法的生活”。

瑞生因持有代表犯罪行为所得利益的财产，最高可被判处三年监禁、15万新元罚款，或两者并罚。

由于他的指控涉及多项罪行，最高刑罚加倍。

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