SINGAPORE - Rainbow Centre said on Sunday that it received $72,450 from three of the 10 accused in the $2.8 billion money laundering case and that it will be reviewing its policies.
The operator of three special needs schools posted a statement on its website following an article in The Sunday Times about charities receiving money from some of the accused. The article said the centre had received at least $52,000 from the three men.
This information was obtained from the organisation’s annual reports. ST had contacted Rainbow Centre for comment on the donations before publishing the article, but did not receive a response in time.
On Sunday, the centre said that after the names of the suspects were released in August, it began an internal investigation and sought advice from the authorities on the donations, while awaiting an official advisory from the Commissioner of Charities.
It said it had received $30,000 from Turkish national Wang Shuiming. The 42-year-old, who is also known as Vang Shuiming, faces five charges – one for using a forged document and four for money laundering.
It also received $25,350 from Cypriot national Su Haijin, 40, who faces one charge of money laundering and another for resisting arrest, and $17,100 from Chinese national Zhang Ruijin, 44, who faces a total of three forgery charges.
The donations were made between 2020 and 2023.
The centre said it takes its legal obligations seriously and adheres to all applicable laws and regulations related to money laundering prevention.
It added: “We will be reviewing our policies and due diligence processes, and, if necessary, will implement measures to further ensure that at all times, (Rainbow Centre) is in full compliance with all its legal and regulatory obligations.
“Rainbow Centre wishes to assure its beneficiaries and donors that contributions are handled responsibly, and every effort is made to ensure full compliance with the law.”
On Aug 15, more than 400 officers led by the Commercial Affairs Department raided locations including Tanglin, Bukit Timah, Orchard Road, Sentosa and River Valley.
Nine men and one woman, originally from China, were charged the next day with offences including money laundering, forgery and resisting arrest. It is Singapore’s worst money laundering case and one of the world’s largest.
Among the assets worth over $2.8 billion that the authorities have taken control of are 152 properties and 62 vehicles with an estimated value of more than $1.24 billion, money in bank accounts amounting to more than $1.45 billion, and cash of various currencies worth more than $76 million.
In Parliament last Tuesday, Second Minister for Home Affairs Josephine Teo said in her ministerial statement that some of those arrested had made donations to charities here.
Some of the charities have ring-fenced the money, while others lodged police reports and plan to surrender the cash to the police, she added.
Various organisations like Lions Befrienders and Sian Chay Medical Institution confirmed that they had received donations from some of the accused, with the former saying it has filed a police report.
A lawyer told ST that charities which accept donations from dubious donors can face significant legal penalties in Singapore, which may involve freezing of their assets or confiscation of the illegal funds.
