All about Singapore’s $2.3 billion money laundering scandal, in which Chinese nationals have been arrested

News Snapshot:

A year after a major money laundering scandal emerged in Singapore, authorities arrested two former bank relationship managers on August 14. This marks the first criminal action against finance professionals in the S$3 billion (US$ 2.3 billion) case. Chinese nationals Wang Qiming and Liu Kai were accused of helping their wealthy foreign clients launder money through real estate and cryptocurrencies. Qiming, a former employee of Citibank Singapore, was charged with 10 counts, including forgery and money laundering in the range of S$500,000 (US$ 379,708). Kai, formerly with Bank Julius Baer and Co, has been accused of aiding a convicted money...