Singapore laundering case, the numbers:
- S$3 billion total
- first two auctions: bags and jewellery, S$2.9 million to S$3.9 million (crumbs next to the total)
- a 15.02-carat yellow diamond ring in there, S$200,000 to S$300,000
the crypto part, from court records:
- December 2020, 499,980 USDT sold for S$657,980
- with help from a former Citibank relationship manager
- Wang Qiming 24 months, Su Baolin 14 months
people love blaming crypto rails for this stuff. i'd say the stablecoin was the easy part, cashing out needed a banker
anyway. somebody's buying that ring
#AML
- S$3 billion total
- first two auctions: bags and jewellery, S$2.9 million to S$3.9 million (crumbs next to the total)
- a 15.02-carat yellow diamond ring in there, S$200,000 to S$300,000
the crypto part, from court records:
- December 2020, 499,980 USDT sold for S$657,980
- with help from a former Citibank relationship manager
- Wang Qiming 24 months, Su Baolin 14 months
people love blaming crypto rails for this stuff. i'd say the stablecoin was the easy part, cashing out needed a banker
anyway. somebody's buying that ring
#AML