ChainCatcher news, according to NetEase Qingliu Studio, Wang Shuiming, a native of Anxi, Fujian, who was arrested in connection with Singapore's largest money laundering case, has been captured in Montenegro and will be extradited back to China. Wang Shuiming's partner, Su Weiyi, has been confirmed as the mastermind behind the Hong Kong cryptocurrency platform scam AAX, and was arrested by Hong Kong police in July 2024.In November 2022, Atom Asset Exchange suddenly became unable to process withdrawals and subsequently collapsed, with Su Weiyi absconding with 16.74 million Hong Kong dollars (approximately 15.675 million RMB). In July 2024, Su Weiyi was arrested by Hong Kong police. It is worth mentioning that Su Weiyi co-owns other companies with other partners, who are linked to the convicted former Filipino mayor Alice Guo (Guo Huaping).On August 15, 2023, over 400 Singaporean police launched a raid, successfully cracking down on the largest money laundering case in Singapore's history, involving an amount of 3 billion Singapore dollars (approximately 16 billion RMB). The Singapore police arrested 10 suspects on the spot. These suspects, aged between 31 and 44, are all originally from Fujian and are referred to by outsiders as the "Fujian Gang." They held passports from multiple countries and used forged documents, shell companies, and cryptocurrencies to "clean" the proceeds from illegal gambling and fraud in Southeast Asia, investing in high-end assets in Singapore and overseas.According to the investigation results of the Singapore police, Wang Shuiming also possesses substantial assets outside of Singapore. Domestically, Wang Shuiming's company has an investment amount of up to 32 million RMB; he owns a factory worth several million RMB; he has two apartments in Xiamen worth a total of 20 million RMB; and there is a bank account in Hong Kong under Wang Shuiming with a deposit of 2 million Hong Kong dollars and cryptocurrencies valued at 110,000 USD.

ChainCatcher news, according to Caixin reports, Hao Gang, the former deputy director of the Beijing Municipal Bureau of Financial Supervision, was sentenced to 11 years in the first instance. It is reported that Hao Gang was involved in Bitcoin money laundering and had assisted executives of a leading Bitcoin mining company in lifting border controls, with the amount of bribes possibly reaching tens of millions. Hao Gang previously served as the director of the Financial Risk Management Department of the Beijing Financial Bureau and became a member of the Party Leadership Group and deputy director of the Beijing Financial Bureau in August 2019, overseeing the risk line, until he was investigated in April 2023 for suspected serious violations of discipline and law.

ChainCatcher news, according to Caixin reports, former deputy director of the Beijing Municipal Bureau of Financial Supervision and Administration, Hao Gang, was sentenced to 11 years in the first instance.Hao Gang was involved in Bitcoin money laundering and had assisted executives of a leading Bitcoin mining company in lifting travel restrictions, with the amount of bribes possibly reaching tens of millions. Hao Gang previously served as the director of the Financial Risk Management Department of the Beijing Financial Bureau and became a member of the Party Leadership Group and deputy director of the Beijing Financial Bureau in August 2019, overseeing the risk sector, until he was investigated in April 2023 for suspected serious violations of discipline and law.

ChainCatcher news, the Chengdu court released the top ten typical cases for 2024, which disclosed a fundraising fraud and money laundering case involving the "GUCS" virtual currency and the associated software "Wa11et Pro" APP. The defendants, including Wang, vigorously promoted the economic value and investment prospects of GUCS coin in Chengdu, Deyang, Meishan, and other places, developing downlines in a pyramid scheme manner, resulting in losses of over 1.7 billion yuan for more than 29,000 fundraising participants. Wang was sentenced to life imprisonment, deprived of political rights for life, and ordered to forfeit all personal property.In addition, the Chengdu court also disclosed a case involving a Singapore company suing a Sichuan real estate company over a "mining machine" sales contract dispute, ruling that the Sichuan real estate company must refund the Singapore company the already paid amount of 836,000 USD for the goods, along with shipping and insurance fees of 22,534 USD, while dismissing other claims from the Singapore company.

ChainCatcher news, according to Bloomberg, the main suspect in the UK’s 60,000 Bitcoin money laundering case and the Tianjin Lantian Ge Rui 43 billion yuan illegal fundraising case, Qian Zhimin (phonetic, alias Zhang Yadi), was arrested in April this year and charged with two counts of money laundering. The UK’s Crown Prosecution Service accused her of holding and transferring illegal cryptocurrency on or before April 23. A man named Seng Hok Ling was also charged alongside her; he pleaded not guilty to a charge of participating in money laundering arrangements knowing or suspecting that the property was criminal. The trial is set to begin on September 29, 2025, at Southwark Crown Court. "Her lawyer stated after the hearing: 'Ms. Zhang denies all criminal charges and plans to actively defend herself.'"

ChainCatcher news, according to Reuters, a Nigerian judge will expedite the hearing of a money laundering case involving Binance and its two executives next week. The hearing originally scheduled for October 11 is now set for September 2. The wife of Binance executive Tigan Gambaryan, who has been detained, stated earlier this month that Tigan Gambaryan has been held in Nigeria since February, and his health has deteriorated in prison.

ChainCatcher news, according to Bloomberg citing informed sources, Citigroup, DBS Group Holdings Ltd., and several other banks are increasing their scrutiny of wealthy clients and potential clients after being implicated in Singapore's largest money laundering scandal, in order to avoid exposure to illegal fund flows.Informed sources stated that private bankers at several institutions are also undergoing additional training to help them identify the means used by criminals to conceal their backgrounds and sources of funds. These sources requested anonymity as they are discussing private matters.These voluntary measures indicate that lending institutions are working to close loopholes that previously allowed a group of criminals to launder over S$3 billion (approximately US$2.23 billion) in online gambling proceeds through at least 16 financial institutions in Singapore. This scandal has damaged Singapore's reputation and exposed weaknesses in local and foreign banks and brokerage firms in screening clients.The Monetary Authority of Singapore recently completed on-site inspections of some of the banks involved. Informed sources indicated that banks with the most transactions with these criminals (including deposit accounts, loans, and other financial services) are expected to face fines and other penalties after the financial regulators complete their review.

ChainCatcher news, according to Sky News, the Southwark Crown Court in London has ruled in the second instance that 42-year-old Chinese national Qian Zhimin is guilty of money laundering and will serve more than 6 years in prison.Previously, Qian Zhimin attempted to purchase multiple luxury properties in London, including a £23.5 million seven-bedroom mansion in Hampstead and a £12.5 million mansion with a private cinema and gym, which drew the attention of the police.Investigations revealed that over £3 billion worth of 61,000 bitcoins were found in a digital wallet, setting a record for the largest cryptocurrency seizure in the UK. Currently, there are still 23,300 bitcoins in circulation, valued at over £1 billion.It is alleged that these bitcoins originated from a £5 billion investment fraud case carried out in China from 2014 to 2017, with the funds being transferred abroad and used to purchase cryptocurrencies. Qian Zhimin did not directly participate in the fraud but acted as a "front" to help disguise the source of the laundered funds.

ChainCatcher news, according to Ming Pao, the Hong Kong police have launched an operation codenamed "Kongding" in the Sham Shui Po district over the past two weeks to combat fraud and money laundering cases, arresting 100 people, most of whom are puppet account holders. This involves laundering the criminal proceeds from 82 fraud cases, amounting to 180 million HKD, with the largest virtual currency investment fraud case exceeding 20 million HKD.It is reported that among those arrested, 3 men and 1 woman have been charged with obtaining property by deception and money laundering. They appeared in the West Kowloon Magistrates' Court from the 7th to the 18th of this month, while the others have been granted bail and are required to report to the police in June.

ChainCatcher news, on March 18 local time in the UK, 42-year-old British-Chinese Jian Wen was found by a UK court to have "participated in arranging money laundering," which could result in a maximum sentence of 14 years in prison. Jian Wen's defense lawyer, Mark Harries, stated that due to the judge's busy schedule, the UK court has postponed the final sentencing for Jian Wen from May 10 to May 24.Previous news, according to Caixin reports, the main suspect in the UK’s 60,000 Bitcoin money laundering case and the Tianjin Lantian Ge Rui 43 billion yuan illegal fundraising case, Qian Zhimin, has recently been apprehended in the UK after being on the run for 7 years in China and 4 years in the UK. His assistant, Jian Wen, a co-conspirator in the UK money laundering case, had previously been arrested and is set to be sentenced on May 10 local time in London.

ChainCatcher news, according to Caixin reports, the main suspect Qian Zhimin in the UK’s 60,000 Bitcoin money laundering case and the Tianjin Lantian Ge Rui 43 billion yuan illegal fundraising case has recently been apprehended in the UK after being on the run for 7 years in China and 4 years in the UK. His assistant, Wen Jian, a co-conspirator in the UK money laundering case, has previously been arrested and is under trial, with a verdict expected to be announced on May 10 local time in London.

ChainCatcher news reports that, according to the Straits Times, in a sensational S$3 billion money laundering case in Singapore, one of the defendants, Zhang Ruijin (45 years old), was sentenced to 15 months in prison after pleading guilty. Zhang Ruijin is accused of transferring S$36 million of criminal proceeds to his bank account in Singapore through a Hong Kong company and forging documents to deceive local banks. He is involved in the highest amount in this case, and his sentence is currently the longest among the defendants.It is reported that Zhang Ruijin is accused of transferring S$36 million of criminal proceeds to his bank account in Singapore through a Hong Kong company and forging documents to deceive local banks. Zhang Ruijin faces four charges of violating the Corruption, Drug Trafficking and Serious Crimes (Confiscation of Benefits) Act, as well as four charges of using forged documents.The judge stated during sentencing that considering the complexity of Zhang Ruijin's case, which involves transnational crime and the use of forged documents to deceive banks, the punishment must have sufficient deterrent effect to maintain the reputation of Singapore as an international financial center.The total value of the assets seized from Zhang Ruijin is approximately S$131 million, including cash, real estate, vehicles, and cryptocurrencies, of which about 90% of the assets were confiscated after the case was adjudicated, including two villas located on Sentosa's Pearl Island valued at S$16 million and S$15.5 million, which are individually owned by him and his mother.

ChainCatcher news, the Public Security Bureau of Linyi County, Shandong Province successfully dismantled a criminal gang that used a "money-running team" to launder money for overseas scammers through the purchase of virtual currency, arresting 6 suspects involved in illegal activities, with a case value of over 2 million yuan.The Linyi County Public Security Bureau received a tip-off: a bank card under the name of Ma was involved in online fraud activities. After meticulous investigation, the police discovered that Ma used his own bank card to receive criminal funds and repeatedly withdrew cash at bank counters and ATMs to transfer the criminal funds. At the same time, Ma also introduced "card farmers" Wang and Liu to provide cards and withdraw cash. The police arrested Ma and the other two, and during interrogation, a multi-person, clearly divided "money-running team" gang surfaced.Through close cooperation among multiple police departments, the police successfully captured Ma's "upper-level" Zhao. Zhao truthfully confessed that he, along with Zhang and Yang, conspired to launder money for overseas scammers using the "card return to U" method. Ultimately, the police arrested Zhang, a key member of the gang, in Tianjin.Thus, a "money-running team" gang that had a complex and hidden funding channel, utilizing "card farmers" and other low-income groups to withdraw cash at bank counters and ATMs, transferring fraud-related funds through "small amounts and multiple transactions" and "card return to U" methods was completely dismantled. Currently, the 6 individuals involved have been subjected to criminal coercive measures according to the law, and the case is under further investigation. (Dazhong Daily)

ChainCatcher news, Hong Kong Customs reported the successful investigation of a major money laundering case involving an amount as high as 1.8 billion HKD. Preliminary investigations revealed that a criminal group consisting of 3 members processed over 1,000 suspicious transactions between June 2021 and July 2022 by setting up multiple shell companies and bank accounts, including a large amount of suspicious fund transfers from virtual currency trading platforms. This indicates that criminals are attempting to launder illegal proceeds by exploiting the anonymity of virtual currencies. Currently, Customs has arrested 3 key members of the criminal group, sealed the involved companies, and confiscated a large number of criminal tools, including mobile phones, company seals, and bank cards. The case is still under further investigation, and more suspects may be arrested. This case serves as a warning, reminding the virtual currency industry to remain vigilant and strictly adhere to anti-money laundering regulations.

ChainCatcher news, Venezuela's Attorney General Tarek William Saab announced the second wave of detentions related to a cryptocurrency money laundering case, which stems from unregistered oil sales conducted with various currencies and cryptocurrencies.Former president of the state oil company PDVSA Tareck El Aissami, former Minister of Economy Simon Alejandro Zerpa, and entrepreneur Samark Lopez have been arrested, accused of laundering money through exchanges such as Kraken and investing in cryptocurrency mining farms.