Online Desk/

The country’s authorities have summoned the documents of 10 banks in Singapore in the money laundering investigation.

Two banks have been named in Singapore’s biggest money-laundering case (one billion) so far. The two banks are Citigroup’s Singapore subsidiary and Malaysia’s CIMB. However, the names of the other banks were not disclosed. However, no charges have been filed against any financial institution so far. The Financial Times reported this information in a report.

Government counsel told a court on Wednesday they have sought documents from financial institutions linked to people arrested and charged last week in Singapore’s biggest money laundering case, the Financial Times reported.

Citigroup said in a statement that it is “committed to combating money laundering and doing its best to implement government policies”. On the other hand, CIMB did not respond to the matter even when contacted.

According to multiple media reports, the 10 people arrested in a simultaneous operation by nearly 400 officers are accused of overseas criminal activities including scams and online gambling, as well as document falsification.
Those detained include citizens of China, Cyprus, Türkiye and Vanuatu. According to police, all of them had passports issued from China.

Meanwhile, The Straits Times reported that 11 of the 20 companies linked to the suspected money launderers were listed as ‘active’ but could not be found at their registered addresses.

These include Golden Eagle Assets and Golden Eagle Family Office. Both companies show 44-year-old Zhang Ruijin as director. Who is said to be a citizen of St. Kitts and Nevis Island but believed to be a resident of Fujian, China. He has been charged with fraud.