I just came across a truly outrageous case: Wang Shuiming from Anxi, Fujian, was involved in what is now Singapore’s biggest money-laundering case. He has already been arrested in Montenegro and will be extradited back to China. What he and his partner Su Weiyi did is basically a set of nested layers—one wrapped inside another.

Su Weiyi is the man behind the scenes of a Hong Kong cryptocurrency platform called Atom Asset Exchange. In November 2022, he suddenly fled, taking 16.74 million Hong Kong dollars with him. He was later arrested by Hong Kong police in 2024. Even more impressive, though, is that Su Weiyi set up several companies together with other partners, and some people involved are linked to the convicted Filipino-Chinese former mayor Guo Huaping.

As for the bigger context of Wang Shuiming’s case: in August 2023, Singapore police arrested 10 people in one go—all of them from Fujian—known as the “Fujian Gang.” They smashed Singapore’s largest money-laundering case in history, involving 3 billion Singapore dollars—roughly 16 billion RMB. These people, holding passports from multiple countries, used forged documents, shell companies, and cryptocurrencies to “launder” illegal gambling and scam proceeds from across Southeast Asia, channeling the funds into high-end assets in Singapore and overseas.

Outside Singapore, Wang Shuiming also has a large number of assets: domestic company investments totaling 32 million, a factory worth several million, two apartments in Xiamen worth 20 million, and in a Hong Kong bank account 2 million Hong Kong dollars plus 110,000 US dollars’ worth of cryptocurrency. This guy really knows how to hide money.