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Luxury property financier hit with more fraud charges in Singapore

Turkish national Vang Shuiming, implicated in Singapore’s largest money-laundering case, received six additional charges for fraud and forgery, bringing his total to 22. Accused of submitting forged financial documents from three companies to financial institutions between 2015 and 2019, his alleged crimes extend to possessing USD2.4m from illegal money lending in China. Assets exceeding USD200m and USD962,000 in cash were confiscated from Vang, who financed luxury properties in Singapore. He and his brother are also sought by China for illegal online activities. Despite attempts to secure bail, Vang’s significant assets and multiple passports rendered him a flight risk. Two co-accused plan to plead guilty, with Vang’s next court appearance scheduled for a pre-trial conference.


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