Corporate service provider jailed 32 weeks for aiding S$3 billion money laundering offender's false tax filings

A corporate service provider who helped one of the offenders in Singapore's S$3 billion money laundering case submit false financial information to the Inland Revenue Authority of Singapore (IRAS) and falsify company records has been sentenced to 32 weeks' jail.

Wang Junjie, 43, was also disqualified from acting as a director of any company for five years after pleading guilty to conspiring with convicted money launderer Su Haijin to make false representations to IRAS regarding the financial position of Yihao Cyber Technologies.

According to state media CNA, he also admitted to failing to act honestly as a director of the company by falsifying accounts and forging contracts. Another 13 charges were taken into consideration during sentencing.

Judge stresses importance of trust

In sentencing Wang on 16 July 2026, District Judge John Ng said the case demonstrated a serious breach of trust that underpins Singapore's corporate regulatory framework.

"You know, the way we work in Singapore, they want to make it as easy, as convenient for most businesses," the judge said.

"We are all trying to comply with the regulations which the Accounting and Corporate Regulatory Authority is trying to make as plain and easy ... but actually, the trust level has to be high."

He added that once trust in the system is abused, "we have to come down hard", saying a heavy punishment was warranted.

The judge rejected the defence's submission that Wang's financial gains from the offences were limited, saying the case was not about how much he earned but the conduct expected of someone holding trusted corporate appointments.

False financial records submitted

Court proceedings heard that Wang operated LW Business Consultancy, which provided corporate secretarial, accounting and taxation services between 2018 and 2023.

The consultancy also assisted clients with applications and renewals for employment passes and dependant passes.

During that period, Wang acted as corporate secretary and director of Xinbao Investment Holdings, where Su Baolin was a director.

He also served as company secretary of Yihao Cyber Technologies, a company controlled by Su Haijin, and prepared its financial statements for several financial years.

Although Yihao Cyber Technologies purported to develop software and applications, the company did not have a legitimate business operation in Singapore.

Wang also assisted Su Haijin with renewing his employment pass and his family's dependant passes.

Scheme to mislead IRAS

Between 2020 and 2022, Wang conspired with Su Haijin to submit false financial information to IRAS regarding Yihao Cyber Technologies.

He knowingly filed tax returns containing revenue, gross profit and trade receivable figures that had not been prepared using proper accounting methods.

In an October 2022 filing covering the company's 2021 financial year, Wang declared that Yihao Cyber Technologies had revenue of S$804,969 and gross profits of the same amount.

The filing also stated that the company's total income or loss before donations was S$192,924, while its total income or loss after donations was negative S$102,700.

Based on those figures, the company recorded an estimated tax liability of zero.

According to the prosecution, the false declarations were intended to create the impression that Yihao Cyber Technologies was a profitable business.

Su Haijin believed that portraying the company as financially successful would improve his prospects of obtaining permanent residency in Singapore.

Apart from the false tax declarations, Wang also made false representations to the Ministry of Manpower in support of Su Haijin's employment pass renewal application.

Prosecution describes pivotal role

Prosecutors argued that Wang's conduct extended well beyond the routine responsibilities of a corporate service provider or nominee director.

They submitted that he played a "pivotal role" in facilitating the offences by actively discussing false financial statements and ways to manipulate company figures with Su Haijin and Su Baolin.

The prosecution sought a sentence of between eight and 10 months' imprisonment, arguing that Wang's level of culpability justified a substantial custodial term.

They said he had used trusted corporate appointments to assist the two men in carrying out offences connected to the broader money laundering investigation.

Defence cites limited financial benefit

Defence lawyer Wee Pan Lee urged the court to impose a sentence of between three and four months' imprisonment.

Counsel argued that Wang did not receive any material benefit beyond the professional fees he earned while providing legitimate corporate services.

According to the defence, Wang received between S$1,000 and S$1,200 a month from each company he served during the relevant period.

However, the court found that the amount earned did not diminish the seriousness of abusing positions of trust to facilitate false corporate filings.

Links to Singapore's largest money laundering case

The offences formed part of investigations linked to Singapore's S$3 billion money laundering case, the largest uncovered in the country and believed to be among the biggest globally.

Su Haijin, a Cypriot national, and Su Baolin, a Cambodian national, were among 10 offenders convicted and jailed over the operation.

Both men were sentenced to 14 months' imprisonment in April 2024.

For conspiring to fraudulently make false representations to IRAS, Wang faced a maximum penalty of 20 years' imprisonment and a fine.

For failing to act honestly as a company director, he could have been sentenced to up to 12 months' imprisonment, fined up to S$5,000, or both.