Wang Shuiming's Escape Exposed: The Transnational Crime Network Behind the 3 Billion SGD Money Laundering Case in Singapore

Singapore’s largest money laundering case mastermind Wang Shuiming may face extradition back to China. The fugitive from Anxi, Fujian, has been arrested in Montenegro, and the hidden transnational crime chain behind him is gradually surfacing. Even more shocking is the true identity of his partner Su Weiyi—he is the behind-the-scenes operator of the Hong Kong cryptocurrency platform scam AAX (Atom Asset Exchange), who fled after embezzling 16.74 million HKD in November 2022 and was later apprehended in July 2024.

From Fujian Gang to AAX Mastermind, Wang Shuiming’s Criminal Network

Wang Shuiming did not act alone. He and Su Weiyi and others controlled a large-scale transnational criminal system. The network’s tentacles extend across Southeast Asia and worldwide, involving illegal gambling, money laundering of scam funds, and high-end asset investments. Most notably, these partners are connected to the convicted Filipino-Chinese former mayor Guo Huaping (Alice Guo), indicating that the criminal network is not only cross-regional but also cross-border organized crime.

The Shocking Truth Uncovered in Singapore’s 2023 Raid

On August 15, 2023, Singapore police deployed over 400 officers to carry out a large-scale raid, successfully solving Singapore’s largest money laundering case in history. During the operation, 10 suspects were arrested on the spot, including Wang Shuiming. The suspects, aged between 31 and 44, are almost all originally from Fujian and are known as the “Fujian Gang.” They hold multiple passports and used forged documents, shell companies, and cryptocurrencies to systematically launder funds obtained from illegal gambling and scams in Southeast Asia, then invested in high-end real estate and assets in Singapore and overseas. The case involved approximately 3 billion SGD, equivalent to about 16 billion RMB.

An In-Depth Look at Wang Shuiming’s Assets: A Hidden Global Wealth Map

Official investigations show that Wang Shuiming still controls a vast amount of assets outside Singapore. He has invested 32 million RMB in domestic companies and owns a factory worth several million RMB. In Xiamen, Wang owns two apartments valued at a total of 20 million RMB. Even more astonishing, he has 2 million HKD in cash in a bank account in Hong Kong and cryptocurrencies worth $110,000. These assets are scattered around the world, highlighting the complexity and concealment of the funds transfer within this criminal group.

Cryptocurrency Becomes a New Tool for Money Laundering

It is worth noting that cryptocurrencies play an important role in this case. The crypto assets in Wang Shuiming’s accounts and the traps on the AAX platform reflect a new trend of criminals using digital assets for fund transfer and concealment. This also serves as a warning to global regulators that the security and compliance of crypto assets still need to be strengthened.