SINGAPORE – A former corporate service provider (CSP) who was behind at least 185 active companies in 2023 has been convicted of conspiring to cheat the Inland Revenue Authority of Singapore (IRAS).
The Straits Times had in September 2023 revealed that Wang Junjie, 43, was involved in nine companies linked to three out of 10 convicted foreigners behind a $3 billion money laundering case, which was Singapore’s largest.
On June 3, Wang, who was a resident at a Housing Board flat in Bedok in 2023, pleaded guilty to conspiring to cheat IRAS by making false representations in his capacity as director of a software company, Yihao Cyber Technologies. It was linked to Su Haijin, one of the 10 foreigners. Wang also pleaded guilty to breaching his duties as a nominee company director in the same firm.
Wang, a naturalised Singaporean originally from Shanghai, will return to court on July 16 to be sentenced, with 13 similar charges to be taken into consideration.
The 10 foreigners were sentenced to between 13 and 17 months’ jail on charges relating to money laundering, fraud and forgery. All have been deported and barred from re-entering Singapore after serving their jail terms.
Wang had initially claimed trial but, on the first day, June 2, indicated he wanted to plead guilty. He did so on June 3.
Court documents show that Wang had run his own business, LW Business Consultancy, between 2018 and 2023.
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