In a complex web of international intrigue, Su Jianfeng, accused of money laundering in Singapore, has allegedly collaborated with a local businessman to sell high-value properties in Dubai. This revelation came from a significant data leak concerning property transactions, unveiled by the Organised Crime and Corruption Reporting Project (OCCRP).

The Dubai Property Connection

The data leak, known as “Dubai Unlocked,” exposes property ownership details of alleged money launderers worldwide, including those linked to the $3 billion money laundering probe in Singapore. Among the implicated individuals are Su Jianfeng and several associates who have collectively purchased 126 properties in Dubai, valued at over 537 million dirhams (S$197 million). These transactions were validated through official passport identification numbers and title deeds from the Dubai Land Registry, ensuring the accuracy of the findings.

Key Players and Their Dubai Holdings

Su Jianfeng, already under scrutiny in Singapore, appears to have a more extensive property portfolio in Dubai than he previously admitted. His properties were marketed mainly by Fidu Property Real Estate Brokerage, a Dubai firm that targets Chinese buyers, and developed by Emaar Properties, a prominent developer with a net asset value of US$37.6 billion (S$50.6 billion) as of 2022. The properties include luxury units at prestigious locations such as The Grand at Dubai Creek and Grande Downtown Dubai.

Su Jianfeng’s business associate, Su Sihai, also plays a significant role. Su Sihai has been the sole owner and director of Fidu Property Real Estate Brokerage since 2021. Despite being wanted in China since 2017 for alleged involvement in illegal gambling, Su Jianfeng has been active in Dubai’s real estate scene, even participating in public events and ceremonies for Fidu Property.

The Money Laundering Probe

The investigation into Su Jianfeng is part of a broader anti-money laundering operation in Singapore, which saw the authorities seize $3 billion in cash and assets in August 2023. Su Jianfeng faces multiple charges, including money laundering and forgery. In a twist, the leaked data indicates that he owns more properties in Dubai than previously confessed, challenging his narrative of funding his assets through legitimate means.

Other Implicated Individuals

The leak also identifies other individuals connected to Su Jianfeng and the Singapore money laundering probe who have significant property investments in Dubai:

– Su Shuiming and Su Shuijun: These Singapore-based businessmen own entire floors at Grande Downtown, purchasing 22 units for over $31 million. Both are wanted in China for their involvement in an online gambling syndicate.

– Chen Mulin: Listed as an associate by Singapore’s Ministry of Law (MinLaw), he owns 24 properties in Dubai, valued at more than $28 million. Chen’s home address in Singapore links him to other key figures in the money laundering case.

– Su Haijin: A Cypriot national convicted in Singapore, Su Haijin owns 11 properties in Dubai worth over $15.4 million, all located in Grande Downtown.

The Broader Impact

This complex network of property transactions highlights the global nature of money laundering schemes. The involvement of multiple jurisdictions, including China, Singapore, Dubai, and others, underscores the need for international cooperation in tackling financial crimes. The United Arab Emirates’ Executive Office of Anti-Money Laundering and Counter Terrorism Financing has affirmed its commitment to working with Singaporean authorities to bring the implicated individuals to justice.

The “Dubai Unlocked” data leak provides a glimpse into the elaborate strategies employed by alleged money launderers to conceal their assets through high-value property investments. As the investigation unfolds, it is clear that the implications extend far beyond Singapore and Dubai, necessitating a concerted global effort to address the challenges posed by transnational financial crimes.

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