SG is fugitive hub

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Terra founder Do Kwon's S'pore work pass expires on Dec 7; Seoul issues his arrest warrant​

Mr Kwon Do-hyeong has apparently applied to renew his employment pass, but this may now be in jeopardy.PHOTO: BLOOMBERG
Joyce Lim
Sep 18, 2022

SINGAPORE - The Singapore-based entrepreneur Kwon Do-hyeong who faces arrest in his native South Korea over fraud allegations faces an uncertain future here as his Employment Pass (EP) is nearing expiration.

Mr Kwon, better known as Do Kwon, has apparently applied to renew his EP, which expires on Dec 7, but this may be in jeopardy as South Korean authorities have moved to invalidate his passport in a bid to force him to return.

There are also reports that officials in Seoul are preparing to file an extradition request in Singapore to have Mr Kwon, co-founder of collapsed cryptocurrency operator Terraform Labs, returned.

The risks to 31-year-old Mr Kwon's continued presence in Singapore were raised dramatically on Wednesday when a court in Seoul issued an arrest warrant for him over fraud claims.

Warrants were also issued for five other people staying here. These involve allegations that include violations of South Korea's capital markets law.

Mr Kwon's EP expires on Dec 7 but his renewal or application for a new pass is pending approval.

Do Kwon is currently not in Singapore, the police have confirmed.

Manpower Ministry (MOM) records also show that Mr Kwon's application for an EntrePass was rejected.

The EntrePass allows eligible foreign entrepreneurs to start and operate a business in Singapore that is venture-backed or possesses innovative technologies.

The Singapore-registered Terraform Labs, which had a paid-up capital of $12, is behind the collapsed Terra Luna and TerraUSD cryptocurrencies.

TerraUSD, also known as UST, crumbled from its dollar peg and brought down the Terraform ecosystem in May.

The Terra Luna coin, which is affiliated to UST, saw its value tumble dramatically from a high of over US$100 to 9 US cents.

A police report was filed in May by a "concerned citizen" who claimed to know of more than 1,000 Singaporeans who had invested in UST and Luna.

The Straits Times understands that the police were not investigating at the time the report was filed. But it said it will assist the Korean National Police Agency "within the ambit of our domestic legislation and international obligations".

South Korean prosecutors and police are investigating Mr Kwon and his company after two complaints were filed on behalf of 81 investors over allegations that the business deceived investors, Financial Times reported.

The report said prosecutors were exploring ways to arrest and extradite Mr Kwon from Singapore, including cooperating with Interpol or nullifying his South Korean passport. Singapore is not on South Korea's list of bilateral extradition treaties.

Lawyer Sunil Sudheesan, who heads the criminal department at Quahe Woo & Palmer, said: "All countries have extradition difficulties when there are no mutually enforceable extradition treaties. Korea will therefore have some difficulty requesting the return of Mr Kwon.

"However, if there is an Interpol red notice on Mr Kwon, this might spur a heightened level of cooperation."

Veteran criminal lawyer Rajan Supramaniam from Regent Law said: "MOM takes a firm stance against foreigners who break the laws.

"Generally, if there is a police case or lawsuit against a work pass holder or any adverse records, such as being involved in a scam, the MOM will take all these factors into consideration when the work pass holder tries to renew his work pass.

"The authorities can make a discretionary decision when there are complaints against work pass applicants," added Mr Rajan, who has handled many cases involving work pass holders.

It is unclear if the South Korean arrest warrant for Mr Kwon will affect his ability to continue to work in Singapore.

ST understands that an applicant needs a valid passport at the point of applying for an EP. However, the issued pass is not tied to the passport's validity so it will still be operational if the passport expires at some point.

Mr Rajan noted that EPs can be revoked if the holder breaches the law, adding: "This will be evaluated at the point of conviction if it falls under the jurisdiction of other countries."

 

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Man behind global malware network objects to extradition to US after arrest in S’pore​

At the end of proceedings, the judge granted the prosecution’s request for Wang Yunhe to be remanded a further seven days.ST PHOTO: KELVIN CHNG

Wong Shiying
May 31, 2024, 08:31 PM

SINGAPORE – The Chinese national arrested in Singapore for allegedly running a network of zombie computers which allowed criminals to commit a myriad of offences has objected to his extradition to the US.

At the State Courts on May 31, Senior District Judge Ong Hian Sun asked Wang Yunhe if he intends to surrender himself to the foreign authorities.

The Singapore Police Force earlier indicated that Washington had made an extradition request for Wang after his arrest. The US has an extradition treaty with Singapore.

His lawyer, Mr Ng Yuan Siang, who said he was briefed by Wang’s spouse, said his client is objecting to the extradition.

The judge asked Mr Ng if Wang is aware that he can give consent to his extradition and waive proceedings. The lawyer said he will speak to his client about this.

Changes were made to the Extradition Act in April 2022 to allow fugitives to consent to their extradition.

This is in line with international practice, to save state resources and prevent the fugitive from being detained longer than necessary in Singapore.

During proceedings which lasted about 15 minutes, Wang tried to present his case to the judge, but was stopped by his lawyer.

The bespectacled 35-year-old, who appeared via video link, spoke Mandarin and had a court interpreter translate for him.

At the end of proceedings, the judge granted the prosecution’s request for Wang to be remanded a further seven days.

His next appearance is on June 6.

In an earlier statement, the US Department of Justice (DOJ) said Wang’s purported offences had allowed cyber criminals to steal billions of dollars through financial fraud, identity theft and other crimes.

He was arrested on May 24 in a multi-jurisdiction operation led by the DOJ.

Wang had allegedly worked with others between 2014 and July 2022 to create and disseminate the 911 S5 Botnet to millions of home-based Windows computers across the world.

A botnet refers to a network of computers infected by malware that is under the control of a single attacking party.

US officials said Wang allegedly sold access to the infected computers – in what is considered the “world’s largest botnet ever” – to cyber criminals who used the devices to commit crimes, from fraud to cyber-stalking.

An archived version of one of the websites selling the IP addresses showed that it cost US$28 (S$38) to purchase 150 addresses. Users could pay through several options, including Bitcoin, Alipay and WeChat Pay.

An archived version of one of the websites selling the IP addresses showed it cost US$28 (S$38) to purchase 150 addresses. PHOTO: INTERNET ARCHIVE
The DOJ said Wang, who holds St Kitts and Nevis citizenship, allegedly received US$99 million from cyber criminals who tapped his network from 2018 to July 2022.

He used the money to purchase 21 properties across the US, St Kitts and Nevis, Singapore, Thailand, China and the United Arab Emirates.

He also has business ties in Singapore, with records showing that he was appointed as a director in two active companies on Jan 15, 2022 – Gold Click, a holding company, and Universe Capital Management, a management consultancy firm.

US court documents described the companies Wang registered as “shell companies he used to conceal the identity and illegitimate nature of his 911 S5 service and its related proceeds”.

Dozens of his assets and properties may be seized, the DOJ said.

They include a Singapore-registered 2022 Ferrari F8 Spider, bank accounts with CIMB Bank, Citibank Singapore and banks in Thailand, a condominium unit in Angullia Park, and Patek Philippe and Audemars Piguet watches.

For his alleged crimes, Wang faces a maximum of 65 years in a US prison if convicted on all counts.

 

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Man allegedly behind global malware network continues to resist extradition from S’pore​

A screengrab of one of the websites that Wang Yunhe used to sell access to IP addresses. SCREENGRAB: INTERNET ARCHIVE

Christine Tan
Jun 06, 2024

SINGAPORE - A man wanted by the US for his alleged role in the world’s largest botnet, which allowed criminals to steal billions of dollars, again resisted his extradition in court here.

Wang Yunhe is in remand and appeared in court on June 6 via video-link before District Judge Tan Jen Tse.

When the judge asked him if he consented to the US’ extradition request, Wang, who spoke through a Mandarin interpreter, said he did not.

He did not explain why he did not want to be extradited.

This is the second time Wang has stated his refusal to be extradited to the US, after his first objection at a court mention on May 31. The US has an extradition treaty with Singapore.

Changes were made to the Extradition Act in April 2022 to allow fugitives to consent to their extradition.

This is in line with international practice, to save state resources and prevent the fugitive from being detained longer than necessary in Singapore.

Even if a fugitive does not consent to his extradition, he can still be ordered to do so if the court is satisfied that certain conditions are met.

On June 6, State Counsel Anupriya A. Daniel asked for Wang to be remanded for seven days, according to the Extradition Act. The law stipulates that fugitives can be remanded for no longer than seven days at any one time.

Wang’s defence lawyer, Mr Ng Yuan Siang, said he would also require an adjournment of the same duration to take instructions from his client.

Wang’s case will be heard again on June 12.

In an earlier statement, the US Department of Justice (DOJ) said Wang’s alleged offences had allowed cyber criminals to steal billions of dollars through financial fraud, identity theft and other crimes.

He was arrested in Singapore on May 24 in a multi-jurisdiction operation led by the DOJ.

Wang had allegedly worked with others between 2014 and July 2022 to create and disseminate the 911 S5 Botnet to millions of home-based Windows computers across the world.

A botnet refers to a network of computers infected by malware that is under the control of a single attacking party.

The DOJ said more than 19 million internet protocol (IP) addresses – unique characters that identify each computer – ended up in the “world’s largest botnet ever”.

US officials said Wang allegedly sold access to the infected computers to cyber criminals.

An archived version of one of the websites selling the IP addresses showed that it cost US$28 (S$38) to purchase 150 addresses. Users could pay through several options, including Bitcoin, Alipay and WeChat Pay.

The DOJ said Wang, who holds St Kitts and Nevis citizenship, allegedly received US$99 million from cyber criminals who tapped his network from 2018 to July 2022.

He allegedly used the money to buy 21 properties across the US, St Kitts and Nevis, Singapore, Thailand, China and the United Arab Emirates.

He also has business ties in Singapore, with records showing he was appointed as a director in two active companies on Jan 15, 2022 – Gold Click, a holding company, and Universe Capital Management, a management consultancy firm.

US court documents described the companies Wang registered as shell companies that he allegedly used to conceal his crimes.

Dozens of his assets and properties may be seized, the DOJ said.

They include a Singapore-registered 2022 Ferrari F8 Spider, bank accounts with CIMB Bank, Citibank Singapore and banks in Thailand, a condominium unit in Angullia Park, and Patek Philippe and Audemars Piguet watches.

Wang faces up to 65 years in a US prison if convicted.

 

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Man allegedly behind global malware network: Prosecution ready to present case for extradition to US​

A screengrab of one of the websites that Wang Yunhe allegedly used to sell access to IP addresses.SCREENGRAB: INTERNET ARCHIVE
Andrew Wong
Jun 12, 2024, 07:09 PM

SINGAPORE - Prosecutors in Singapore are ready to present evidence for Wang Yunhe, the man allegedly behind a global malware network, to be extradited to the United States.

This follows the Chinese national’s objection on June 12 to extradition.

It is the third time the 35-year-old, who was arrested in Singapore on May 24 for allegedly facilitating the theft of billions of dollars, has objected to an extradition request by the US.

He had signalled his objection at a hearing on May 31 and June 6.

The US has an extradition treaty with Singapore. Under Singapore’s Extradition Act, fugitives are allowed to consent to their own extradition to save state resources and prevent them from being detained longer than necessary in Singapore.

Wang, who appeared before the State Courts on June 12 via video link, said in Mandarin that he would not consent to extradition.

He will be remanded for a further seven days, with his case to be heard again on June 18.

Wang has been in custody since his arrest following a multi-jurisdiction operation led by the US Department of Justice.

Agencies like the Federal Bureau of Investigation, the Singapore Police Force and the Attorney-General’s Chambers were involved in the operation to cripple the world’s largest network of zombie computers.

The US authorities accused Wang of working with others between 2014 and 2022 to create and disseminate the 911 S5 Botnet to millions of home-based Windows computers across the world.

A botnet refers to a network of computers infected by malware that is under the control of a single attacking party.

Wang allegedly created malware that compromised millions of residential computers around the world, and then sold access to the infected computers to cyber criminals.

The US authorities said the malware operation infected more than 19 million internet protocol addresses in nearly 200 countries, facilitating cybercrimes including financial fraud, identity theft and child exploitation.

Wang, who also holds a St Kitts and Nevis passport, allegedly received payouts amounting to US$99 million (S$134 million) over this period.

He is said to have used the money to purchase 21 properties across the US, St Kitts and Nevis, Singapore, Thailand, China and the United Arab Emirates.

US court documents showed he resided in the properties he owned in Singapore, Thailand and China, and owned and operated several companies in various jurisdictions.

He was arrested at his Singapore residence, a condominium in Angullia Park.

Court documents showed Wang had multiple assets, including a Singapore-registered 2022 Ferrari F8 Spider, bank accounts with CIMB, Citibank Singapore and banks in Thailand, and Patek Philippe and Audemars Piguet watches.

His business ties to Singapore include directorships in Gold Click, a holding company, and Universe Capital Management, a management consultancy firm.

US court documents described the firms Wang registered as “shell companies he used to conceal the identity and illegitimate nature of his 911 S5 service and its related proceeds”.

For his alleged crimes, Wang faces a maximum of 65 years in a US prison if convicted on all counts.

 

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Man allegedly behind global insider trading scheme arrested in S’pore; US says he pocketed millions​

Ge Zhi was apprehended on July 3 and brought to the State Courts the next day, where he was ordered to be held under the Extradition Act.PHOTO: JOSH GE/FACEBOOK

Samuel Devaraj
Jul 10, 2024

SINGAPORE - A Singaporean man accused of being the leader of an international insider trading and money laundering scheme has been arrested here, following a request in June from the US.

Ge Zhi, 33, was apprehended on July 3 and taken to the State Courts the next day, where he was ordered to be held under the Extradition Act.

The Straits Times understands the US will be filing extradition papers for him to be taken to the district court in Massachusetts.

Ge and his alleged co-conspirators are accused by the US authorities of pocketing tens of millions of dollars in illegal profits on the back of a securities fraud scheme.

They are said to have received non-public information about at least 10 companies whose shares were traded on the US stock exchange.

The information included financial performance and merger-and-acquisition activity of the firms, which they received from company insiders.

Ge is said to have recruited others to trade in the stocks, purportedly directing them on how to trade on the information and when to withdraw their proceeds.

Investigators in the US alleged that the illegal profits were then purportedly laundered through various means, including cash payments and international financial transactions, with the intention of, among other things, concealing the sources of the proceeds and masking the identities of the scheme’s participants.

Among other things, Ge is said to have instructed a co-conspirator to transfer $300,000 in illicit proceeds into a Hong Kong bank account, and to say that the money was payment to an antique watch dealer.

A Singapore Police Force spokesperson declined to provide specifics when contacted by ST, but said a warrant of arrest was issued for a 33-year-old Singaporean man on June 28, 2024, for offences allegedly committed in the US.

“As the matter is before the courts, we are unable to comment further,” the spokesperson added.

Ge’s lawyer, Mr Favian Kang from Adelphi Law Chambers, also declined to comment on the matter.

ST contacted the US Department of Justice but a spokesperson declined comment.

In court on July 4, State Counsel Anupriya A. Daniel applied for Ge to be remanded for seven days, pending an extradition request from the US.

The US has an extradition treaty with Singapore.

The counsel said that the authorities in the US had asked only for Ge to be apprehended.

In response to Mr Kang’s query on when the extradition papers are expected, State Counsel Daniel said she was not sure, but added that the time limit is two months.

Mr Kang then requested that the prosecutor liaise with the US counterpart to expedite the matter.

During proceedings, District Judge Brenda Tan asked Ge if he wished to consent to surrender to the foreign state, and he said no.

Under the Extradition Act, fugitives can give consent to their extradition and waive extradition proceedings.

This is in line with international practice, to save state resources and prevent the fugitive from being detained longer than necessary in Singapore.

Ge maintained his refusal in his second court appearance on July 10.

State Counsel Daniel again requested that Ge be remanded for a week, pending the receipt of a formal extradition request.

Ge asked the court if he could get a bail hearing, but Senior District Judge Ong Hian Sun said no.

He will return to court on July 16.

 

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CPIB arrests man over corruption case in Indonesia; suspect says he has diplomatic passport​

Indonesian media reported that Paulus Tannos is implicated in a major graft scandal involving the government’s electronic ID card project.PHOTO: SCREENGRAB FROM KPK.GO.ID

Christine Tan
Jan 24, 2025

SINGAPORE – A businessman wanted by the authorities in Indonesia over his alleged involvement in a corruption case there has been arrested by Singapore’s Corrupt Practices Investigation Bureau (CPIB).

Through his lawyers, Paulus Tannos said during his court mention on Jan 23 that he has a diplomatic passport from West African country Guinea-Bissau.

But the State Counsel rebutted that this did not grant Paulus diplomatic immunity as he is not accredited with Singapore’s Ministry of Foreign Affairs (MFA).

CPIB said on Jan 24 in response to The Straits Times’ queries that it arrested Paulus on Jan 17 after the Indonesian government made a provisional arrest request against him.

The bureau said the matter is pending the submission of a formal extradition request by the Indonesian authorities.

“Singapore is committed to continue working closely with Indonesia on this case, in accordance with due process and the rule of law,” it added.

CPIB said it was unable to comment further as the matter is currently before the Singapore courts.

Indonesian media outlet Jakarta Globe reported on Jan 24 that Paulus is implicated in a major graft scandal involving the government’s electronic ID card (e-ID) project, which caused the state losses of about 2.3 trillion rupiah (S$192 million).

The report, which cited officials, added that Paulus has been on Indonesia’s fugitive list since Oct 19, 2021.

It said Paulus was the president and director of Shandipala Arthaputra, a technology company awarded the contract to produce part of the e-ID cards.

Paulus, who uses the alias Tjhin Thian Po, is currently remanded. He attended a hearing at the State Courts on Jan 23 via video link.

The man, who looks to be in his 60s, followed court proceedings with the help of a Bahasa Indonesia interpreter. He was represented by Mr Hamidul Haq from Rajah and Tann.

Mr Hamidul told the court there is an issue of whether his client’s detention is legal as he holds a diplomatic passport from Guinea-Bissau.

The State Counsel replied that Paulus’ possession of the passport itself does not grant him diplomatic immunity.

He said: “Based on our checks with MFA, on all three names of the fugitive... he does not have diplomatic status at this point in time.”

The State Counsel said that apart from “Paulus Tannos” and a Chinese name, the diplomatic passport uses a third name, which Paulus changed according to a deed poll.

Mr Hamidul also requested a bail hearing and cited his client’s medical condition, but did not elaborate on the condition in court.

During proceedings, District Judge Brenda Tan asked Paulus if he wished to consent to surrender to the foreign state.

Under the Extradition Act, fugitives can give consent to their extradition and waive extradition proceedings.

This is in line with international practice, to save state resources and prevent the fugitive from being detained longer than necessary in Singapore.

Paulus replied through the interpreter: “I’m willing to go back to the Guinea-Bissau country.”

When Judge Tan reminded him that the foreign state was Indonesia, Paulus said he was unwilling to be sent there.

His case will be heard again in the State Courts on Jan 28.

The extradition treaty between Singapore and Indonesia came into effect on March 21, 2024, and was hailed as a major milestone for bilateral relations.

It grants extradition for a comprehensive list of offences, including corruption, money laundering and bribery, in accordance with the laws of both countries and safeguards provided in the treaty.

The treaty with Indonesia can be retrospectively applied to crimes committed up to 18 years ago.

 

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Singapore working with Indonesia on extraditing fugitive businessman: Shanmugam​

Law and Home Affairs Minister K. Shanmugam and Deputy Attorney-General Lionel Yee at a press conference on March 10 about the extradition request.ST PHOTO: BRIAN TEO

David Sun
Mar 10, 2025

SINGAPORE – Singapore has received a request from Indonesia to extradite a fugitive businessman over corruption charges, the first such request since a treaty between both countries came into force.

Paulus Tannos, also known as Tjhin Thian Po, is an Indonesian businessman in his 60s who was arrested here on Jan 17 over his alleged involvement in a corruption case in Indonesia.

Indonesia put in a formal extradition request on Feb 24, said the Ministry of Law (MinLaw) in a statement on March 10.

The extradition treaty between Singapore and Indonesia took effect on March 21, 2024. It grants extradition for a list of offences, including corruption, money laundering and bribery, and can be retrospectively applied to crimes committed up to 18 years ago.

Tannos has been implicated in a major graft scandal involving the Indonesian government’s electronic ID card or e-KTP project, allegedly causing state losses of about 2.3 trillion rupiah (S$192 million).

He was the president and director of Shandipala Arthaputra, a technology company awarded the contract to produce part of the e-ID cards.

He has reportedly been on Indonesia’s fugitive list since Oct 19, 2021, and is believed to have been living in Singapore since 2017.

During a press conference on March 10 about the extradition request, Law and Home Affairs Minister K. Shanmugam said Singapore takes the matter very seriously, and that the Attorney-General’s Chambers (AGC) will try to expedite the process.

Tannos has lawyered up and intends to contest the extradition, Mr Shanmugam said, adding that the process may take two years or more.

Under the Extradition Act, fugitives can give consent to their extradition and waive extradition proceedings.

This is in line with international practice, to save state resources and prevent the fugitive from being detained longer than necessary in Singapore.

Mr Shanmugam said: “If Tannos doesn’t contest his extradition, he can be extradited in six months, maybe even less.

“But he has told the court that he will not consent to the extradition, and that he will in fact be contesting the extradition.”

The minister said the process will take longer as a result.

He said: “Tannos has a team of lawyers. He is also entitled to apply for bail.

“He will also, of course, ask for time to prepare his case. And if the court does order the extradition, he is entitled to appeal.”

Paulus Tannos, also known as Tjhin Thian Po, has reportedly been on Indonesia’s fugitive list since Oct 19, 2021.PHOTO: SCREENGRAB FROM KPK.GO.ID
Mr Shanmugam said extradition hearings vary from case to case, but if it is complicated and contested at every step of the way, then it can take two years or maybe even longer.

The extradition case in Singapore with the longest legal process so far took about two years.

It involved two brothers from India, Avanish Kumar Jha and Rajnish Kumar Jha, who were arrested in Singapore in April 2023, and were extradited to the US in February 2025 to face charges relating to the sale of drugs there.

There has been much speculation from the Indonesian media with regard to Tannos’ case, with some questioning why it is taking so long for him to be extradited even though he has already been arrested, and the two countries have a standing treaty.

Asked about this, Mr Shanmugam said the Singapore authorities have been working closely with their Indonesian counterparts, but it will still take time.

Singapore received a provisional arrest request from Indonesia on Dec 19, 2024.

Mr Shanmugam said the Corrupt Practices Investigation Bureau (CPIB) and the AGC found the request fell within the framework of the extradition treaty.

So CPIB applied and obtained an arrest warrant for Tannos from the court on Jan 17.

He was arrested that day and has been remanded without bail since.


At his Jan 23 extradition hearing, Tannos said through his lawyers that he has a diplomatic passport from the West African country of Guinea-Bissau.

But the State Counsel had said then that this did not grant him diplomatic immunity as he was not accredited with Singapore’s Ministry of Foreign Affairs (MFA).

The judge had asked Tannos if he wished to consent to surrender to the foreign state.

Tannos replied that he was willing to go to Guinea-Bissau.

When the judge reminded him that the foreign state was Indonesia, he said he was unwilling to be sent there.

Tannos’ lawyers had also requested a bail hearing, citing his medical condition, which was not elaborated on in court.

On Feb 24, Singapore received a formal extradition request and supporting documents from Indonesia.

Tannos’ last scheduled court hearing was on March 7, but he was in hospital.

He has been scheduled for another mention on March 13, and a bail review on March 19.

On March 10, Mr Shanmugam said in cases where a person enters Singapore with a false or illegitimate passport, they can be sent back quite quickly.

But Tannos had entered Singapore with a valid passport, and so it was not a matter of simply sending him back.

He said: “It is not like we can just put him on a plane and send him back. There are formal processes.”

He noted that Tannos’ lawyers said they would follow up with regard to the issue of his diplomatic passport, but so far have not done so.

On March 10, MinLaw said: “The Singapore Government is fully committed to combatting crime and upholding our role as a responsible extradition partner. The Singapore Government is taking the case very seriously, and will do all possible under the law to facilitate the request for Tannos’ extradition.”

 

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Over 35% increase in mutual assistance, extradition requests received by Singapore​

Attorney-General Lucien Wong speaking at the annual ceremony at the Supreme Court auditorium to mark the opening of the legal year.ST PHOTO: KUA CHEE SIONG

Selina Lum
Mar 10, 2025

SINGAPORE – The Attorney-General’s Chambers (AGC) received 275 mutual legal assistance and extradition requests from its international counterparts in 2024, an increase of more than 35 per cent compared with the previous year.

Attorney-General Lucien Wong said this on Jan 13 at an annual ceremony to mark the opening of the legal year.

As a major financial hub, Singapore receives many requests for assistance involving funds or assets in its financial system from international counterparts, he said.

“We do have a very heavy caseload relative to our size,” he said.

In 2022 and 2023, the AGC – the Republic’s central authority for mutual legal assistance and extradition matters – received around 200 new mutual legal assistance and extradition requests for each of these years. The number grew to 275 in 2024.

In his speech, Mr Wong focused on the work of his chambers in the international arena, touching on climate change, the digital economy and battling transnational crime.

He added that Singapore entered into new mutual legal assistance treaties with South Korea and Vietnam in 2024.

“Singapore maintains a zero-tolerance policy against transnational crimes, and we stand ready to provide assistance to our international counterparts, to the fullest extent permissible under our laws,” said Mr Wong.

He also recalled how law enforcement agencies undertook a large-scale, islandwide raid and seized more than $3 billion in assets from 27 suspects in 2023.

Ten of the suspects, who are originally from China and held multiple passports, have since been convicted of money laundering charges and surrendered around $944 million in assets.

Of the 17 suspects who have left Singapore, 15 of them surrendered around $1.85 billion worth of assets to the state. The assets linked to the remaining two suspects, amounting to $144.9 million, remain seized or prohibited from disposal.

“Our message is clear – Singapore does not tolerate money laundering, and ill-gotten gains will be disgorged from money launderers,” Mr Wong said.

He also highlighted how his officers had contributed to the development of international law and norms in relation to climate change.

This included making arguments in two major sets of proceedings regarding the obligations of states in respect of climate change – one before the International Tribunal for the Law of the Sea in 2023, and the other before the International Court of Justice in 2024.

Legal service officers also assisted in the negotiations and conclusion of agreements that set out legally binding frameworks for the generation and transfer of carbon credits between Singapore and other countries – one with Papua New Guinea and the other with Ghana.

Mr Wong said legal service officers have also been contributing to the development of international standards and norms in the field of generative artificial intelligence (AI).

Some of his officers seconded to the Infocomm Media Development Authority helped to draft a framework that provides practical suggestions for policymakers and the industry on how to build a trusted ecosystem for generative AI, he said.

 

[k1976]

Immigration is essential and existential for Singapore’s survival: SM Lee​

Senior Minister Lee Hsien Loong delivering his speech during the Teck Ghee Citizenship Ceremony at Nanyang Polytechnic on March 9.ST PHOTO: GIN TAY
Chin Soo Fang
UPDATED MAR 10, 2025, 05:12 AM


SINGAPORE – New citizens bring with them something extra that is vital to Singapore, enriching its society and invigorating its economy, said Senior Minister Lee Hsien Loong on March 9.

“New arrivals bring fresh experiences, diverse perspectives and global connections. You help us to plug into the world, and thrive as a regional hub and a global node,” said SM Lee.

This was how cities like London, New York and Shanghai became great centres of culture and prosperity – by attracting talent from all over the world and creating an environment of constant innovation and enterprise, he added.

Immigration is essential and existential for Singapore’s survival: SM Lee​

Senior Minister Lee Hsien Loong delivering his speech during the Teck Ghee Citizenship Ceremony at Nanyang Polytechnic on March 9.ST PHOTO: GIN TAY
Chin Soo Fang
UPDATED MAR 10, 2025, 05:12 AM
SINGAPORE – New citizens bring with them something extra that is vital to Singapore, enriching its society and invigorating its economy, said Senior Minister Lee Hsien Loong on March 9.
“New arrivals bring fresh experiences, diverse perspectives and global connections. You help us to plug into the world, and thrive as a regional hub and a global node,” said SM Lee.
This was how cities like London, New York and Shanghai became great centres of culture and prosperity – by attracting talent from all over the world and creating an environment of constant innovation and enterprise, he added.

 

[k1976]

Singaporean charged with $306m crypto heist blows $665k a night in clubs; gives Birkin bags to women​

An Instagram reel (right) shows Malone Lam (left) purportedly having an extravagant party at a nightclub.
PHOTO: Broward Sheriff's Office, Screengrab/Instagram/Iaineventrippin_
PUBLISHED ONMARCH 10, 2025 8:25 AM






Singaporean Malone Lam – arrested and charged over one of the biggest crypto heist in the US – splurged up to US$500,000 (S$665,000) a night at clubs and was seen giving Hermes Birkin bags to models and influencers in his lavish outings.

The US Department of Justice (DOJ) said the 20-year-old and co-accused, American Jeandiel Serrano, 21, were arrested in September 2024 and charged with “conspiracy to steal and launder over US$230 million in cryptocurrency from a victim in Washington, DC”. At today’s prices, the 4,100 stolen Bitcoin are worth more than US$450 million.

In his latest court hearing last week, Lam appeared in a green prison jumpsuit in a Washington court where his trial date was set for Oct 6.

 

[k1976]

Deepfakes of Singapore PM used to sell crypto, residency programme​

Bloomberg
Mon, 10 March 2025 at 8:49 AM SGT2-min read

Deepfakes of Singapore PM Lawrence Wong are being used to sell cryptocurrency, money-making schemes and PR applications. (Photo: LawrenceWongST/X)
By Olivia Poh

(Bloomberg) – Deepfakes of Singapore Prime Minister Lawrence Wong are circulating online and being used to sell cryptocurrency, money-making schemes and permanent residency application services, the country’s leader said on Friday.

In posts on social media platforms Facebook and X, Wong said he has seen some of the videos online. He urged people to stay vigilant and to not respond to such scams or share personal information. The posts included screenshots of Wong beneath a red sign declaring they were scams.

 

[k1976]

Nearly 10 years’ jail for woman who committed cheating linked to over $5.7m of mostly crypto funds​

Ho Kai Xin pleaded guilty to five cheating charges, eight counts of dealing with the benefits of criminal conduct, and one count of giving false information to a public servant.ST PHOTO: KELVIN CHNG

Shaffiq Alkhatib
UPDATED FEB 20, 2025, 07:07 PM


SINGAPORE - By making amendments on Microsoft Excel files used for payrolls, a woman working at a fintech company committed cheating linked to more than $5.7 million, mostly relating to cryptocurrency.

On Feb 20, Ho Kai Xin, 32, was sentenced to nine years and 11 months’ jail after she pleaded guilty to five cheating charges, eight counts of dealing with the benefits of criminal conduct, and one count of giving false information to a public servant.

Thirty other charges were considered during her sentencing.

Nearly 10 years’ jail for woman who committed cheating linked to over $5.7m of mostly crypto funds​

Ho Kai Xin pleaded guilty to five cheating charges, eight counts of dealing with the benefits of criminal conduct, and one count of giving false information to a public servant.ST PHOTO: KELVIN CHNG

Shaffiq Alkhatib
UPDATED FEB 20, 2025, 07:07 PM
SINGAPORE - By making amendments on Microsoft Excel files used for payrolls, a woman working at a fintech company committed cheating linked to more than $5.7 million, mostly relating to cryptocurrency.
On Feb 20, Ho Kai Xin, 32, was sentenced to nine years and 11 months’ jail after she pleaded guilty to five cheating charges, eight counts of dealing with the benefits of criminal conduct, and one count of giving false information to a public servant.
Thirty other charges were considered during her sentencing.

 

[k1976]

Rich Asians fuel Singapore crypto craze on Trump, bitcoin hype​

Written byNikkei Asia Published on 27 Feb 2025 6 mins read

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Digital asset players and private banks are racing to capitalize on growing interest in the sector.

---

Over steak and wine at a swanky restaurant in downtown Singapore a week after Donald Trump won November 2024’s US presidential election, Gerald Goh pitched a bright future for digital assets to journalists covering cryptocurrencies.

The return to the White House of the former reality TV star, cast as a figure whose policies will usher in a boom for virtual money, has spurred rising bets on the sector’s coins and companies. And for bankers, fund managers and private wealth advisers in the city-state, it has triggered a frantic chase for the rich clients allocating more capital to a reenergized segment of digital finance.

Goh, the co-founder and CEO of Sygnum, a virtual asset banking group serving high-net-worth customers in Singapore, is among scores of crypto executives who have seized the momentum to raise the profile of their services in the region’s financial hub.

“Specifically, in Singapore … investors generally are more positive about incorporating crypto investments as part of their investment portfolios,” Goh told Nikkei Asia. “We’ve already seen in 2024 an improvement in the mood, let’s say, in the sentiment, on the crypto side.”

 

[k1976]

Singaporeans Should Stay Clear of Cryptocurrencies, Says Alvin Tan​

MAS has barred crypto platforms from offering credit or leverage, including credit card payments, due to high debt risks

Fintech News SingaporeMarch 5, 20252 Mins Read



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Singapore’s Minister of State for Trade and Industry and Culture, Community and Youth Alvin Tan, who is also a board member of the Monetary Authority of Singapore (MAS), asserted that “consumers should stay clear of cryptocurrencies”.

Alvin Tan
Speaking in Parliament on 5 March 2025, he stressed that digital assets are highly volatile, speculative, and lack fundamental value.

Responding on behalf of Deputy Prime Minister and MAS Chairman Gan Kim Yong, Tan addressed a question from Yio Chu Kang MP Yip Hon Weng on the government’s decision to tighten regulations for digital payment token service providers.

He explained that MAS has consistently warned the public about the risks of dealing in cryptocurrencies, stressing that they are highly risky and unsuitable for the general public.

 

[k1976]

Metro department store debuts stablecoin payments in Singapore: Report​

“By integrating stablecoin payments, we’re not just embracing the future — we’re shaping it,” a Metro Store executive reportedly said.
19185
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COINTELEGRAPH IN YOUR SOCIAL FEED
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Metro, a publicly listed department store chain in Singapore, has reportedly enabled its customers to pay for products using stablecoins like Tether’s USDt.

Metro has partnered with Singapore-licensed crypto payment platform Dtcpay to introduce stablecoinpayments both in-store and online, Dtcpay announced on Feb. 26.

“Now, Metro customers can enjoy seamless, secure payments without the concerns of price fluctuations that come with using more volatile digital assets,” Dtcpay commercial director Andy Sze Toh said.

Metro Store customers will be able to check out using stablecoins like Tether’s USDt

USDT
$0.9999
, Circle’s USD Coin
USDC
$0.9999
, as well as FD121’s First Digital USD
FDUSD
$0.998
and the Worldwide USD (WUSD) stablecoin issued by the Worldwide Stablecoin Payment Network, he added.

 

[k1976]

Singapore

New citizens enrich Singapore, invigorate economy 'in ways beyond what numbers can show': SM Lee​

He also called on Singaporeans to "firmly reject" those who play up nativist and xenophobic sentiments for political gain.

Senior Minister Lee Hsien Loong at the Teck Ghee citizenship ceremony on Mar 9, 2025. (Photo: Ministry of Digital Development and Information)



Listen
4 min
09 Mar 2025 01:18PM (Updated: 10 Mar 2025 11:20AM)
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Read a summary of this article on FAST.


FAST
SINGAPORE: New citizens enrich Singapore and invigorate its economy “in ways beyond what numbers can show”, said Senior Minister Lee Hsien Loong on Sunday (Mar 9).

Speaking at the Teck Ghee citizenship ceremony at Nanyang Polytechnic, Mr Lee said new arrivals bring fresh experiences, diverse perspectives and global connections.

 

[LITTLEREDDOT]

At the heart of a cross-border extradition case is Indonesia’s most wanted man. Who is Paulus Tannos?​

12 Mar 2025
Therese Soh

He has been on Indonesia’s fugitive list since 2021.

Businessman turned fugitive Paulus Tannos, also known as Tjhin Thian Po, recently made news for his alleged involvement in a multimillion rupiah corruption case – said to be one of Indonesia’s largest scandals in recent history. Wanted by Indonesian authorities for suspected graft, he has been on the country’s fugitive list since 2021 and is now the center of the first cross-border extradition case under a freshly-minted treaty between Singapore and Indonesia. His capture by Singapore’s anti-graft agency the Corrupt Practices Investigation Bureau (CPIB) on Jan 17 put an end to years of evasion. Here are some things to know about him:

Businessman, fugitive and Singapore PR, with three names

Tannos is a permanent resident of Singapore, where he resides with his family. While he has lived in Singapore since 2017, Indonesian authorities claim that he holds Indonesian citizenship, which he tried to relinquish on multiple occasions.

His past two attempts to give up Indonesian citizenship failed due to incomplete documentation and he remains a citizen of the South-east Asian country, Indonesian Law Minister Supratman Andi Agtas told The Star.

Tannos appears to have ties to Western African country Guinea-Bissau. He holds a diplomatic passport from the nation under a third name.

He was the president, director and owner of tech company Shandipala Arthaputra. The company was contracted by the Indonesian government for its electronic identification card megaproject – known as e-KTP – that was slated to launch in 2011.

Player in Indonesia’s biggest scandal in recent history

Tannos is suspected of involvement in a major corruption scandal involving the Indonesian government’s electronic identification card (e-ID) megaproject e-KTP that reportedly incurred losses amounting to around 2.3 trillion rupiah (S$187 million).

The scandal had dozens of high profile figures trialled and jailed, including former Indonesian Home Ministry officials Irman and Sugiharto, The Star reported.

Tannos is accused of colluding with lawmakers to ensure his firm Sandipala Arthaputra won the project tender to produce components of e-ID cards at inflated prices in return for illegal compensations, Reuters said.

The budget for the production of the e-ID cards was said to be marked up by 49 per cent to 2.5 trillion rupiah, former Democratic Party treasurer Muhammad Nazaruddin said. The former treasurer told The Jakarta post that the project was marred with nepotism, citing Tannos’ close ties with Indonesian politician Gamawan Fauzi.

Between 2011 and 2013, Tannos was said to have embezzled around 140 billion rupiah of project funds.

His failure to cooperate with a corruption probe into the project by the Indonesian anti-graft body the Corruption Eradication Commission (KPK) – which according to The Jakarta Post was opened in 2013 – led to him being named a fugitive on the country’s most wanted list in 2021.

In 2016, it was reported that an investigative team from the KPK was sent to Singapore to question key witnesses – companies that had won the tender for the e-KTP project – as a consortium of companies had fled to Singapore after KPK launched corruption investigations in 2013.

Family bankruptcy

Tannos and his family were declared bankrupt by an Indonesian court in 2020 over failure to pay a 200 billion rupiah loan of a company the Tannos family stood as guarantors for, The Straits Times reported.

The family – himself, his wife Lina Rawung and their daughters Pauline and Catherine – was allegedly guarantor of a loan taken on by an Indonesian company, PT Megalestari Unggul (MLU), that Tannos was a majority shareholder of.

His daughter was also involved in the e-KTP case, according to BBC News Indonesia.

In 2011, MLU was granted a loan from another Indonesian company, The Straits Times reported.

When it could not repay the debt in 2012, the creditors moved to make Penundaan Kewajiban Pembayaran Utang (PKPU) orders against the family. Under Indonesian bankruptcy law, PKPU orders temporarily suspend a debtor’s repayment obligations so it can propose to creditors a loan restructuring plan. A bankruptcy order is made against a debtor if it fails to propose a plan approved by the majority of its creditors.

Attempts to serve the family notice of the PKPU proceedings failed as their registered Indonesian address was “incomplete” and the family was absent at the court proceedings.

Their lawyers attended later meetings with the creditors, but the meetings did not lead to a successful loan restructuring plan, resulting in the Indonesian court pronouncing MLU insolvent and the Tannos family bankrupt.

The court appointed individuals to administer the insolvency process, and as receivers and administrators of the Tannos family’s estate, which included property the family owned in Singapore.

Capture in Singapore

Indonesia requested Tannos’ arrest on Dec 19, 2024. The CPIB applied for an arrest warrant for Tannos on Jan 17. The the courts issued the warrant and arrested him on the same day. Since his arrest, Tannos has been in remand without bail.

He produced a diplomatic passport from West African country Guinea-Bissau through his lawyer, Hamidul Haq from Rajah and Tann, during his court mention on Jan 23.

Hamidul raised to the court the issue of whether his client’s detention was legal as he held a diplomatic passport.

The State Counsel rebutted that Tannos’ possession of the passport does not grant him diplomatic immunity that precludes arrest or extradition. Checks by the Ministry of Foreign Affairs also showed that he did not have diplomatic status and was not accredited with the ministry.

When asked by the judge if he would be willing to surrender to a foreign state, Tannos said he was willing to go back to Guinea-Bissau but not Indonesia.

On Feb 24, Singapore received Indonesia’s formal request for Tannos’ extradition, along with relevant documents.

The request and documents are currently under review by the AGC and CPIB. Once all extradition requirements are met, the case will return to court where a formal extradition order will begin, said Law and Home Affairs Minister K Shanmugam on Mar 10.

Tannos could be extradited in six months or less if the extradition is not contested. However, the full legal process may take up to two years if it is complex and contested at every juncture, the minister said.

He has told the court he will contest the extradition.

His last scheduled court hearing was on Mar 7, but he was in the hospital. He is scheduled for another mention on Mar 13 and a bail review on Mar 19.

 

[k1976]

 

[k1976]

Oops….unicorn kaput?

 

[True Believer]

S'pore seems like the "laundromat" to the world's criminals.