Bedok resident found involved in 185 companies; 9 linked to $1b money laundering case

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SINGAPORE - The listing of a Singapore resident as director, secretary and shareholder of 185 companies here has sparked concerns, after it emerged that several of the firms were linked to three of the 10 money laundering suspects arrested on Aug 15. Experts say it is not possible for an individual to be involved in so many companies, adding that...

SINGAPORE - The listing of a Singapore resident as director, secretary and shareholder of 185 companies here has sparked concerns, after it emerged that several of the firms were linked to three of the 10 money laundering suspects arrested on Aug 15.

Bedok resident JJ, who runs a firm which provides secretarial services, was previously appointed as director, secretary or shareholder of 224 companies, including those involved in investment, technology, consultancy and pharmaceutical trade.Of the 185 companies that are still active, nine list Su Haijin, Su Baolin and Vang Shuiming, who is also known as Wang Shuiming, as director or shareholder.

The 41-year-old was not at his Housing Board flat in Bedok when The Straits Times checked on Aug 23. In a call to ST later that night, he said that he was in business with one of the suspects. When asked about his involvement with around 400 companies since 2014, JJ said: "So what if I'm involved in all these companies? I do secretarial work for companies and they are all legitimate. I'm not doing anything wrong."JJ said that he was introduced to the individual by Su Haijin, whom he denied having any business connections with.

These individuals act as the secretary to many different companies, and they are in charge of ensuring the company's annual returns are filed on time, among other responsibilities. "However, even nominee directors are still responsible for compliance and that increases the risk and cost of .

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Bedok resident behind 185 companies; nine are linked to billion-dollar money laundering bustExperts say it is not possible for an individual to be involved in so many companies. Read more at straitstimes.com.
مصدر: straits_times - 🏆 5. / 69 اقرأ أكثر »

Bedok resident behind 185 companies; nine are linked to billion-dollar money laundering bustThe listing of a Singapore resident as director, secretary and shareholder of 185 companies here has sparked concerns, after it emerged that several of the firms were linked to three of the
مصدر: thenewpaper - 🏆 7. / 63 اقرأ أكثر »