How are forged property contracts linked to the money laundering case?

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Forged Property Sale Contracts Submitted to Banks in Singapore Money Laundering Probe

Su Jianfeng, a suspect in Singapore's significant money laundering investigation, faces six new charges related to the alleged submission of forged property sale contracts to financial institutions. These documents were reportedly used to deceive banks, including Oversea-Chinese Banking Corporation (OCBC) Bank and Maybank Singapore, into believing that significant deposits originated from legitimate property transactions. This alleged deception aimed to mask the true sources of wealth by presenting them as proceeds from property sales.
Submission of Forged Contracts to OCBC Bank

One of the new charges against Su Jianfeng involves a forged property sale contract for "Emaar Square Building 2 Property Number 408." This document was allegedly submitted to OCBC Bank with the intent to mislead the institution. The purpose was to make the bank believe that a deposit of S$2,999,980, received from Wecord Rich Trading Company on May 28, 2021, was the genuine outcome of this property sale.
Deception Involving Maybank Singapore

Further allegations detail the use of a forged contract for "Residences_E2 Property Number 2302" submitted to Maybank Singapore. This contract was reportedly presented as genuine in relation to a sale to an individual named Lin Zhenghu. Deposits totalling S$1,029,970 and S$969,970 from Tuo Xin You in December 2020 were purportedly disguised as proceeds from this specific property transaction.
Alleged Intent to Conceal Wealth Sources

The core of these new charges centres on Su Jianfeng's alleged intent to deceive the banks. By submitting these fabricated property sale agreements, he is accused of attempting to convince the banks that he possessed legitimate sources of wealth. The deposits in question were allegedly presented as being derived from the legal sale of these properties, rather than their true, undisclosed origins.
Additional Forged Documents Submitted to OCBC Bank

Beyond property sale contracts, Su Jianfeng is also accused of submitting forged loan agreements to OCBC Bank. Two such agreements, one for approximately S$2.5 million from a company named Sheng Yu and another for about S$2 million from Sheng Big, were allegedly presented as genuine. These submissions were reportedly intended to deceive OCBC Bank into believing that substantial deposits from these companies, including amounts like S$1,029,990, S$499,990, and S$969,990 from Sheng Yu, were legitimate loan disbursements.

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How are forged property contracts linked to the money laundering case?

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