$2.8 Billion Money Laundering Case: Accused Offers 24-Hour Surveillance as Condition for Bail

SINGAPORE – In a high-profile attempt to secure bail, Vang Shuiming, one of ten foreigners charged in Singapore’s largest-ever money laundering investigation, proposed 24-hour surveillance as part of his latest bail request. The 42-year-old Turkish national appeared in the High Court on October 12, marking his second appeal for bail through a criminal revision. He remains the only accused in this case to make such a request.

Arrested on August 15 alongside nine others, Vang has dual citizenships in China and Vanuatu. His lawyer, Mr. Wendell Wong, argued that bail could be granted with stringent conditions, including an electronic tag and constant CCTV monitoring. Family members have also agreed to surrender all passports and be placed on an immigration watchlist. Mr. Wong emphasized that Vang’s multiple passports, obtained legally, do not substantiate claims of him being a flight risk.

However, Deputy Public Prosecutor David Koh argued that Vang’s lack of ties to Singapore and substantial assets, both locally and overseas, suggest he remains a high flight risk. Authorities have seized or frozen over $240 million in assets held in Vang’s and his wife’s names within Singapore, with an additional $35.5 million in assets held abroad. The prosecutor also noted concerns about Vang’s unaccounted Cambodian passport, indicating that police cannot confirm the full extent of his passport holdings or prevent him from obtaining new ones if needed.

Justice Vincent Hoong will render a decision on Vang’s bail request at 2:30 p.m.

Vang faces five charges, including forgery and money laundering related to approximately $2.4 million held across four bank accounts. His brother, Wang Shuiting, is also implicated in the investigation and is on Singapore’s wanted list.

Additionally, Rainbow Centre, an operator of special education schools, confirmed that Vang and two other accused individuals had made donations, with Vang contributing $30,000.