How much criminal proceeds were allegedly laundered by Wei?

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Wei allegedly laundered about S$38 million in criminal proceeds
Wei is facing a new money laundering charge on Jul 6 for allegedly converting about S$55 million to purchase a Good Class Bungalow (GCB). The charge alleges that this amount includes around S$38 million in criminal proceeds.
The money laundering charge tied to the GCB purchase
Police said the GCB is valued at about S$55 million and that they seized the property and around S$1 million in bank funds as part of the wider investigation. For Wei specifically, the alleged laundering centres on converting about S$55 million to buy the property.
The split between total amount and criminal proceeds
The allegation states that the S$55 million conversion includes around S$38 million in criminal proceeds. This figure is the portion characterised as proceeds of crime within the money laundering charge.
Timing of the additional charge
Wei is set to face the new money laundering charge on Jul 6. The charge is described as part of expanding fraud and money laundering cases linked to the investigation.
Maximum penalties linked to money laundering convictions
If convicted of money laundering, Wei can face up to 10 years’ jail, a fine of up to S$500,000, or both. This penalty range applies to Wei and other individuals facing money laundering counts in the case.

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How much criminal proceeds were allegedly laundered by Wei?

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