Man charged over receiving scam proceeds of more than $1.5m in his firm's bank accounts
Chinese national Hao Jian was handed four charges, including over money laundering and carrying out an unlicensed remittance business.
SINGAPORE – A man who allegedly received over $1.5 million in scam proceeds via his company's bank accounts was charged on July 2 .
Chinese national Hao Jian, 38 , was handed four charges, including over money laundering and carrying out an unlicensed remittance business.
The police said that between May and October 2020, they received several reports that a firm called Qeebey Tech UK received money, allegedly derived from scams, in its bank accounts in Singapore.
The firm was incorporated in the United Kingdom, and investigations revealed that Hao was the sole director and shareholder of the company, said the police.
Hao was out of Singapore when the police commenced investigations against him, but was arrested in September 2024, when he entered the Republic for business.
Further investigations revealed that from February to November 2020, Hao allegedly used Qeebey Tech UK's bank accounts in Singapore to receive around $1.55 million, which was then transferred to bank accounts both locally and overseas.
Separately, in April 2020, one of the bank accounts maintained by Qeebey Tech UK received $95,978, allegedly derived from scams carried out against Singaporeans.
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The police said Hao was unable to provide a satisfactory explanation for the source of the money, which is suspected of being another individual's benefits from criminal conduct. This individual was not named.
Hao was also the director of a Hong Kong-incorporated company named Qeebey Tech HK, which had bank accounts in Singapore.
Between July 2019 and May 2020, Hao allegedly used the bank accounts of Qeebey Tech HK in Singapore to receive funds of around $1.99 million.
He purportedly intended for the money to be transferred to other bank accounts in Singapore and overseas.
At the time, neither Hao nor his two companies possessed a licence to carry on a remittance business or a business providing any type of payment service in Singapore, said the police.
Hao was also not an exempt payment service provider.
When Hao was charged on July 2, his bail was revoked, to be reviewed on July 8.
Separately, his pre-trial conference will take place on July 14 .
The police said they take a strong stance against those who make use of Singapore's financial system to launder proceeds of criminal conduct.
'Individuals are advised to be cautious of performing bank transactions for others in exchange for monetary benefits ,' the police said.
'To avoid becoming involved in money laundering activities, members of the public should also refrain from allowing their bank accounts to be used for receiving or transferring money for others .'
Those who possess property that may be reasonably suspected of being benefits from criminal conduct, and fails to account satisfactorily how they came by the property, can be jailed for up to three years, fined up to $150,000, or both.
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