Apr 26, 2010
66 money launderers charged
SIXTY-SIX money launderers have been hauled up to court in the past three years, said Deputy Prime Minister Wong Kan Seng on Monday. Of these, 45 were Singaporeans, two were Permanent Residents and 19 were foreigners. So far, 63 of them have been convicted, while the remaining three cases are still pending in Court, said Mr Wong, who is also the Home Affairs Minister, in a written reply to opposition NMP Sylvia Lim.
The sums involved in each transaction ranged from about S$1,000 to about S$500,000, while the sentences vary from two months jail term to 54 months. They were charged under the Corruption, Drug Trafficking and other Serious Crimes (Confiscation of Benefits) Act which criminalises the laundering of benefits derived from corruption, drug trafficking and other serious crimes. Convicted offenders can be fined a maximum of $500,000, or jailed for up to seven years, or both, and a corporate or business entity can be fined up to $1 million.
