Wang Junjie, former director at corporate service provider, faces charges of conspiracy, falsification, and document forgery.

Wang Junjie, a former director of a corporate service provider linked to the 2023 S$3 billion money laundering case in Singapore, has been charged with 15 offences, including conspiracy to falsify accounts and document forgery.

Wang, 42, was a director at Yihao Cyber Technologies, which had connections to Su Haijin, one of the convicted individuals in the money laundering scandal. Court documents reveal that between 2020 and 2023, Wang worked with Su to falsify the company’s financial records, including revenue, gross profits, and trade receivables for the years 2019 to 2022.

Additionally, Wang allegedly conspired with Su Haijin to make false representations to the Inland Revenue Authority of Singapore (IRAS) and the Ministry of Manpower about the company’s financial figures. In another instance, Wang conspired with Su Baolin, another key figure in the money laundering scheme, to manipulate Xinbao Investment’s financial documents.

Charges also include Wang’s involvement in forging documents to deceive financial institutions, such as an e-commerce software agreement between Yihao Cyber Technologies and SG-Gree, which was used to cheat DBS, and false invoices and contracts submitted to OCBC Bank for Xinbao Investment.

Wang’s role extended beyond these fraudulent activities, as he is also accused of breaching his fiduciary duties as a director of Yihao Cyber Technologies and Xinbao Investment. His registration as a director, along with his consultancy firm LW Business Consultancy, was cancelled by the Accounting and Corporate Regulatory Authority (Acra) in January 2024 for violations of anti-money laundering regulations.

The charges come as part of the fallout from Singapore’s largest-ever money laundering case, which saw 10 foreign nationals arrested in August 2023. Wang was identified in media reports as being involved in the operations of numerous companies linked to those accused in the scandal.

Authorities have emphasized the importance of corporate service providers following anti-money laundering protocols and ensuring they exercise professional care when dealing with clients. The Commercial Affairs Department warned that those who fail to comply with due diligence processes will be held accountable.

Wang remains out on bail, with his next court appearance scheduled for March 6.