SINGAPORE, Aug 22 — A director of a company linked to Singapore’s multimillion-dollar luxury goods scam has been charged with money laundering, as authorities move to recover properties in Thailand that could potentially compensate victims.
Local news site CNA reported that Yap Lee Peng Somchai, 30, was charged yesterday with transferring property while having reasonable grounds to believe it represented benefits from criminal conduct, as well as failing to exercise reasonable diligence as a company director, the Singapore Police Force (SPF) said.
She was a director of Tradeluxury Pte Ltd, which operated primarily as an online reseller of luxury bags, and was also an authorised signatory of its bank account, SPF said.
Between May and August 2022, police received 187 reports alleging that Tradenation Pte Ltd and Tradeluxury failed to deliver luxury watches and bags despite receiving full payment, SPF said.
The two companies were at the centre of a scam that saw customers pay upfront for goods that were not delivered, according to CNA.
Thai national Pansuk Siriwipa, the main decision-maker for both companies, was sentenced to 14 years’ jail in October 2024, while her Singaporean husband Pi Jiapeng, a director of the companies, was jailed for five years and 10 months in October 2025, SPF said.
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