Singaporeans Heng Boon Liang and Heng Joo Keng were also told to falsely present themselves as the ultimate beneficial owners of the firms.
The other Russian, Singapore permanent resident Maxim Glazov, 57, incorporated five of the companies. He is expected to admit to his charges on July 28. " would assist Maxim in the operations of TB, and would have no involvement in the daily operations of the remaining four companies." In April 2017, Glazov told the elder Heng that banks were intending to close the firms' accounts because of"US sanctions imposed on Russian entities and Russian nationals and the political issues and sanctions between the two countries".
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