A company partially owned by Su Haijin, one of the individuals implicated in a significant money laundering case, has acquired two buildings in London for over S$73 million, according to investigations by The Straits Times. The properties, located at 283 Oxford Street and 11 Princes Street, were sold for £43.3 million (approximately S$73.5 million) on December 17, 2021.

Currently, a Foot Locker store operates from the Oxford Street location, which is known as Europe’s busiest shopping street. The company involved in the transaction, New Yihao, was established in the tax haven of Jersey—an island near the north-west coast of France—just two months prior to the property purchases. Su Haijin is identified as a beneficial owner, holding more than a 25% stake in the trust that controls New Yihao. Another entity, Fiduchi Trustees Limited, also possesses over 25% of the company.

Su Haijin, a 40-year-old Chinese national, faces charges of money laundering and resisting arrest in Singapore. Authorities have reported that he allegedly holds over S$4 million in a UOB bank account, believed to be linked to unlawful remote gambling activities. In total, authorities have seized assets worth more than S$170 million from both Su and his wife.

During a recent court hearing, it was disclosed that Su Haijin owns properties abroad valued at over S$14.2 million, including a condo in Cambodia, three in Cyprus, and five in Macau, in addition to the London property.

Reports indicate that Su’s wife and four children may be relocating from their rented good class bungalow in Bukit Timah to a condominium at Gramercy Park, situated in the Orchard Road area, where Su’s registered address is also located.

Furthermore, another individual involved in the money laundering case, Lin Baoying, reportedly purchased a penthouse in Canary Wharf, London, for £1.78 million, shortly before the completion of the Oxford Street sale. Lin is currently facing two forgery charges and a charge of perverting the course of justice, with authorities seizing assets worth around S$200 million from him, one of the highest amounts among the ten accused.

In addition to real estate holdings, reports from Radio Free Asia indicate that New Yihao was established by the Fiduchi Group, which is associated with luxury yacht broker Imperial Yachts. The company and its owner, Evgeniy Kochman, faced sanctions from the U.S. Treasury in 2022 for allegedly assisting Russian oligarchs in concealing and managing their wealth and luxury assets.

Separately, it was noted that a mega yacht valued at approximately US$4 million (S$5.45 million), partially owned by Su Haijin, departed Singapore waters on August 19, having previously been docked at One°15 Marina in Sentosa Cove. The last recorded tracking data indicated it sailed westward from Singapore before the tracking device was turned off.