Corporate service provider admits role in false tax filings tied to S$3 billion laundering case
A Singapore corporate service provider linked to two convicted figures in the S$3 billion money laundering case pleaded guilty to submitting false tax information and breaching director duties. Prosecutors said the filings helped create the appearance of legitimate business activity.
- Wang Junjie pleaded guilty to making false representations to IRAS and breaching director duties.
- Prosecutors said he helped create a false appearance of profitability for a company linked to Su Haijin.
- Sentencing submissions will be heard on 16 July 2026.
SINGAPORE: A corporate service provider linked to two convicted figures in Singapore’s S$3 billion money laundering case has admitted conspiring to submit false tax information and helping create the appearance of legitimate business activity for a company with no genuine operations in the country.
Wang Junjie, 43, pleaded guilty on 3 June to two charges involving false representations to the Inland Revenue Authority of Singapore (IRAS) and breaches of his duties as a company director.
Another 13 similar charges will be taken into consideration during sentencing.
The offences are closely connected toy Su Haijin and Su Baolin, two Fujian-origin foreigners who were among 10 individuals convicted in Singapore’s largest money laundering case.
Guilty plea after planned trial
Wang, a Shanghai-born Singaporean, had initially intended to contest the charges.
However, on the opening day of his trial on Tuesday, he informed the court that he wished to change his plea.
According to state media CNA, on Wednesday, he formally admitted to the offences before the court.
Deputy Public Prosecutors Grace Teo and Gladys Lim told the court that Wang, a Singaporean, did not possess accounting qualifications despite providing accounting and taxation-related services through his company.
From 2018 to 2023, Wang operated LW Business Consultancy, which offered corporate secretarial, accounting and taxation services. The firm also assisted clients with applications and renewals for employment passes and dependant passes.
Among its clients were companies linked to both Su Haijin and Su Baolin.
Links to companies tied to convicted offenders
Court documents showed that Wang served as corporate secretary and director of Xinbao Investment Holdings from 2018 to 2023.
Su Baolin was a director of the company.
His consultancy charged Xinbao Investment Holdings S$7,500 annually for its services.
Wang also acted as company secretary and director of Yihao Cyber Technologies, where Su Haijin was a director.
According to prosecutors, Su Haijin informed Wang that he would be “just a nominee director” and would not be involved in the company’s operations.
Wang subsequently assisted in preparing the company’s financial statements for the 2019 to 2022 financial years.
While Yihao Cyber Technologies was recorded as a software and application development company, investigations later found that it had no legitimate business operations in Singapore.
LW Business Consultancy charged the company several hundred dollars per month between 2018 and 2019 before increasing its fees to S$1,000 monthly from 2020 onwards.
The consultancy also assisted Su Haijin in renewing his employment pass and securing dependant passes for family members.
False financial information submitted
Investigators found that Wang and Su Haijin conspired between 2020 and 2022 to provide false financial information to IRAS.
Prosecutors said Wang submitted tax returns containing inaccurate figures relating to revenue, gross profits and trade receivables despite knowing they had not been derived through proper accounting methods.
One filing submitted in October 2022 for Yihao Cyber Technologies’ 2021 financial year stated that the company had revenue of S$804,969 and gross profits of the same amount.
The filing further declared income or loss before donations of S$192,924 and income or loss after donations of negative S$102,700. These figures resulted in an estimated tax liability of zero.
According to investigations, Wang knew the company had no genuine revenue source in Singapore and employed no staff in the country.
“The accused admitted that he calculated the figures ‘in any way’ he wanted, as long as his client ... approved the final figures. The accused did not conduct any further due diligence on the company,” prosecutors said.
Objective was to project business legitimacy
The prosecution said the false submissions were designed to make Yihao Cyber Technologies appear profitable.
According to court proceedings, Su Haijin believed that presenting the company as a successful business would improve his prospects of obtaining permanent residency in Singapore.
Wang was also accused of making false representations to the Ministry of Manpower in support of Su Haijin’s employment pass renewal application.
The case forms part of investigations linked to Singapore’s S$3 billion (US$2.34 billion) money laundering operation, regarded as the largest uncovered in the country and among the biggest globally.
Su Haijin, a Cypriot national, and Su Baolin, a Cambodian national, were convicted and sentenced in April 2024.
Each received a 14-month jail term.
Authorities seized approximately S$170 million in assets from Su Haijin and around S$72 million from Su Baolin, including luxury properties, cash and other high-value assets.
The pair later forfeited a combined S$230 million to the state before being deported in May 2024.
Wang is scheduled to return to court on 16 July 2026 for mitigation submissions and sentencing.
