A former relationship manager with Citibank Singapore has been sentenced to two years’ jail for multiple offences involving forgery, money laundering, and obstruction of justice.
Wang Qiming, a 28-year-old Chinese national, was convicted on four charges — two counts of forgery for the purpose of cheating Citibank, one money-laundering offence involving S$481,678, and one count of obstructing justice by deleting potential evidence from his phone.
Six other related charges were considered during sentencing, including additional counts of forgery, abetment to forge a loan document to deceive Standard Chartered Bank, using fraudulent documents, and lying to an immigration officer at Changi Airport.
Involvement with money-laundering syndicate
Investigations by the Commercial Affairs Department (CAD) revealed that Wang had managed the accounts of three clients later convicted in Singapore’s high-profile money-laundering case — Su Haijin, Su Baolin, and Vang Shuiming.
In December 2020, at Su Baolin’s request, Wang helped arrange the sale of nearly 1.5 million units of cryptocurrency (USDT) through a third-party agent. To make the transaction appear legitimate, Wang and Su agreed to have the proceeds transferred in tranches from a remittance company to Su’s Standard Chartered Bank account.
When the first deposit of S$657,980 arrived from an unknown individual identified as “Se Liang”, the pair conspired to forge a “borrowing agreement” to mislead the bank into believing the funds were a loan repayment. This forged document later became one of the charges taken into consideration by the court.
A second tranche of S$481,678 from the sale of cryptocurrency was later collected by Wang in cash on Su’s behalf. The money was suspected to be the proceeds of illegal remote gambling activities.
Forgery and obstruction of justice
Between February and July 2021, Wang forged three remittance receipts showing deposits ranging from S$999,980 to S$1,999,980 to deceive Citibank’s anti-money-laundering team into believing the funds were legitimate.
When police began investigations in October 2021, Wang deleted the WhatsApp application from his phone minutes after officers contacted him, erasing communication records with his clients that could have served as evidence.
CAD warns financial professionals
Director of the Commercial Affairs Department, David Chew, said the case underscored the importance of integrity among financial professionals.
“We take a zero-tolerance stance against financial professionals and intermediaries who knowingly abet their clients to abuse Singapore’s financial system to commit crimes or launder illicit proceeds,” he said.
“Banks, as important gatekeepers of our financial system, have a duty to detect and turn away criminal funds. We will take firm action against those who abuse their expertise to help clients circumvent due diligence processes.”
The CAD noted that Wang’s clients — Su Haijin, Su Baolin, and Vang Shuiming — had all completed their sentences and were deported from Singapore earlier in 2024.
