Ex-employee of businessman linked to $3b money laundering case exposes boss’ excesses

Just hours after police raided several luxury homes across Singapore on Aug 15, 2023, a white Toyota Alphard drove past a good class bungalow (GCB) in Third Avenue.

Through darkened windows, the wealthy businessman passenger peered at the hive of activity taking place at the property leased by Su Jianfeng.

The passenger, Mr Su Binghai, was curious. He had received information that his friend Su Jianfeng and several others he knew were being arrested.

Worried that he would be next, he told his driver to head back to the GCB he was renting in Jalan Asuhan, off Adam Road.

During the 10-minute drive, he called a number of people in Indonesia, Malaysia and Dubai, where he owns two properties worth a combined $1.2 million.

Once he arrived home, he told his wife, Ms Wang Manzu, that they had to leave Singapore. He dumped between 20 and 30 Patek Philippe watches into his bags, and took as much money as he could carry.

He then left Singapore just hours after his friends were apprehended in what was to become Singapore’s largest money laundering case.

Ms Wang left Singapore the next day on Aug 16, 2023. Their three children, aged 11 to 15, along with Mr Su’s parents, who were living with them, left Singapore within the next two months.

Mr Su is now a person of interest to the police and a fugitive. He is one of 17 people said to be responsible for $2.1 billion of the $3 billion seized in the case.

Weeks after the raids, officers from the Commercial Affairs Department turned up at Mr Su’s home and forced open more than 10 safes and several locked rooms.

They took away a number of items, and served prohibition of disposal orders for others, including his fleet of luxury cars.

The Straits Times was given an insight into his last hours in Singapore and his opulent lifestyle after one of his nine employees made contact.

The employee said he suspected the man he referred to as “laoban” (“boss” in Mandarin) and “Su Zong” (“director Su” in Mandarin) was involved in the case.

Out of concern for his safety, he is being identified as Dave and not by his real name.

Although Mr Su may have little access to his assets in Singapore, he still has considerable resources. He also has friends in organised crime syndicates based overseas.

The 10 foreigners arrested in the operation in 2023 have been convicted, including Su Jianfeng. Nine of them have been deported from Singapore.

But the investigations into others, including Mr Su Binghai and 16 others linked to the case, continue.

Dave is among a number of individuals who are assisting the police in the case.

Business owner

Mr Su, who holds Cambodian citizenship and has passports from Vanuatu and St Kitts and Nevis, had presented himself as a legitimate businessman.

He was listed as a director and shareholder in six businesses, including New Future Holdings, which was purportedly involved in creating software applications.

He had also established private equity firm New Future International in 2017 in Hong Kong, where he owns a home.

Ms Wang had a Singapore Island Country Club membership, which cost more than $900,000 for foreigners.

Mr Su donated to the Singapore Disability Sports Council’s charity golf event in 2022. He was also recognised as a donor in the Community Chest’s 2023 awards.

His family often dined at the finest Chinese restaurants, preferring private dining rooms, where he would pay cash even though the couple had American Express Centurion cards.

The exclusive invite-only credit card is commonly known as the “Black Card”. Reports claim that cardholders have to spend around $500,000 annually to be a member.

Dave said: “He would have stacks of $100 bills folded in his pockets. Sometimes after meals, he would just pay the restaurant with cash.”

Mr Su owned nine luxury cars, including two Ferraris – a blue F8 Spider and a red SF90 Stradale – and two Rolls-Royces – a purple Cullinan and a black Phantom. They are worth at least $10 million on the second-hand market.

Dave said his boss would occasionally take the blue Ferrari for a spin.

Seven of the cars were parked at his Jalan Asuhan compound. Two other cars – a Tiffany-blue Rolls-Royce Phantom and a white McLaren GT – were parked at a home in Rochalie Drive.

The property was leased by Mr Su Bingwang, with whom Mr Su Binghai set up a company in Hong Kong in 2017.

When Mr Su Binghai ate at home, his meals were often accompanied by expensive wine or whiskey, including a few shots of his favourite 35-year-old Macallan whiskey that costs upwards of $15,000 a bottle.

His employees, including a live-in chef, would wait on the family and jump at their every whim.

“He initially paid my wages in cash, but later made bank transfers. He was demanding, and would not take no for an answer,” said Dave, who started working for the family at the start of 2023.

Dave worked seven days a week without any breaks. His day would start at 6.30am and end late in the evening.

He said Mr Su would regularly make eleventh-hour demands for a game of golf, movie tickets or dinner at restaurants where reservations are closed.

“He would demand to play at the golf clubs whenever he felt like it, even if they were full.

“He would insist that we do it by any means possible, to slot him and his friends in,” said Dave.

Mr Su enjoyed entertaining his friends at the 19,000 sq ft estate, away from prying eyes.

One such party, held in early 2023, had more than 60 guests. Several foreigners who were later convicted in the money laundering case attended the dinner with their wives and families.

“Luxury cars belonging to the guests lined the streets during the parties.

“My boss would hire waitresses to serve the guests, and there would be multiple private chefs cooking for them,” Dave added.

After dinner, his friends would belt out Chinese tunes in the karaoke studio or retreat to the dedicated massage rooms and sauna for more private conversations. They also indulged in whiskey and Cuban cigars.

When Mr Su wanted men-only privacy, he would go to a huge bungalow near Stevens Road. The home was rented by Wang Dehai, one of the foreigners convicted in the money laundering case.

They would party at the 12,800 sq ft property into the wee hours, and often arranged for social escorts.

Checks by ST found that the house Wang leased was listed for sale in July for $48 million.

Mr Su and his wife filled their four-storey home in Jalan Asuhan with expensive oil paintings, crystal figurines, and houseware and tableware from Hermes.

Checks online showed that a single fork or spoon can cost up to $185, while a salad bowl costs $2,000. Their floor-to-ceiling, walk-in wardrobe was full of branded clothes.

Dave said he often saw representatives of brands like Louis Vuitton delivering new clothes and bags to the house.

ST verified Dave’s claims through various documents and thousands of photos of Mr Su, his wife, their children and the home.

Some photos reveal the opulent life the couple enjoyed, which included regular trips to China and Europe. They often flew in first or business class, but would also charter private planes for trips.

One photo shows Mr Su on holiday with Su Jianfeng. Their families had accompanied them on the trip.

Dave said that during his employment, his boss and his wife frequently travelled to Britain and Dubai, with each trip lasting two weeks.

There is a photo showing Mr Su Binghai and his family seated near the VIP boxes at the 2018 Fifa World Cup final held in Moscow. 

“I felt something didn’t add up a few weeks into my job. Here was a family living in such luxury, yet I never saw my boss work a day when I was employed by him,” said Dave.

Then came the raids in August 2023.

“Another employee told me that on the day of the arrests, my boss had caught wind of the operation and instructed one of the chauffeurs to drive him past Su Jianfeng’s house to see what was happening.”

Mr Su Binghai then returned home and packed his bags.

“I remember clearly there were between 20 and 30 empty Patek Philippe watch boxes on the floor after he left,” Dave said.

Mr Su and his wife later contacted the employees from overseas, but would not say where they were calling from.

“He was trying to tell all of us (employees) that he was not involved, and that everything would be fine,” said Dave.

Close links

While in Singapore, Mr Su and an associate, Mr Su Fuxiang, snapped up properties through their companies, with some purchases made just two months before the raids.

Mr Su Binghai was the sole director and owner of Jiasheng Amoy. In 2021, the company bought a three-storey unit at 182 Telok Ayer Street and four adjoining units of two-storey shophouses – from 55 to 58 Amoy Street.

Mr Su Fuxiang bought a row of shophouses in the Boat Quay area for $80 million in June 2023 through his company Suyh.

Like Mr Su Binghai, Mr Su Fuxiang and Mr Su Bingwang left Singapore abruptly after the raids.

The shophouses were later claimed by DBS Bank after the companies they bought the homes under were put into receivership.

In June 2024, DBS reportedly accepted more than $100 million for the 13 shophouses.

Documents seen by ST show that Mr Su Binghai had also bought a unit at The Marq on Paterson Hill, the same luxury development where Wang Dehai had a unit.

Wang, who was convicted in the money laundering case, bought his unit using $23 million of criminal benefits from his role at an illegal gambling syndicate in the Philippines.

Dave said his boss attended a house-warming party, along with Mr Su Fuxiang and another associate Su Yongcan, sometime in 2023. It was held at Wang’s unit at The Marq.

An Interpol red notice was later issued against Su Yongcan – the brother-in-law of Wang and Su Jianfeng – at the behest of the Singapore Police Force. 

The three had been named as major suspects in an online gambling syndicate by China’s Ministry of Public Security as early as 2015.

Mr Su Binghai and Su Yongcan were next-door neighbours in Jalan Asuhan. Dave said that Su Yongcan and his wife would frequently attend parties hosted by his boss.

Source: Straits Times © SPH Media Limited. Permission required for reproduction.

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