SINGAPORE – Zhang Ming and his brother-in-law Yin Junjun were each sentenced to 33 months’ jail on Thursday for conspiring to launder over $900,000 in crime proceeds using foreign workers’ bank accounts.
The duo, both 39 years old, were caught after police officers found more than $400,000 in cash and 71 bank cards during a roadblock. The money was linked to various scams, although specific details about the crimes were not disclosed.
Zhang, a permanent resident of Singapore, worked as a manager at a foreign workers’ agency, while Yin was employed at a trading firm. In early 2021, Zhang was introduced to a man known as Ah Xiang, who claimed to be involved in online gaming and soccer betting. Ah Xiang offered Zhang money in exchange for using his bank account to receive cash and transfer it to other accounts. Fearing that his own account might be flagged, Zhang suggested using the bank accounts of foreign workers leaving Singapore.
For every $10,000 received, Zhang and Yin were promised a $200 commission. The two men began collecting bank cards and internet banking details of foreign workers who were departing Singapore. They shared this information with Ah Xiang via Telegram, and soon, Ah Xiang started transferring large sums of cash into these accounts.
Zhang and Yin were instructed to transfer the funds to cryptocurrency wallets or Chinese bank accounts. On June 20, 2021, at around 3 a.m., the men were stopped at a roadblock in Jalan Toa Payoh. They were arrested after being unable to explain why they had such large amounts of cash and numerous bank cards in their vehicle.
In court, the defense argued that Zhang and Yin were unaware that the money came from cheating activities and believed it was from online gaming. Both were offered bail of $25,000 and are set to begin serving their sentences on January 30, 2023.
The prosecution emphasized the severity of their actions, with Zhang and Yin each facing multiple counts of dealing with criminal benefits.
