SINGAPORE: A 43-year-old Singaporean managing director, who is on the US Federal Bureau of Investigation's (FBI) most wanted list, has been charged with falsifying invoices of two companies to conceal transactions with North Korea-linked entities.
Tan Wee Beng, managing director of commodity trading company Wee Tiong Holdings, was charged in Singapore on Friday (Jun 19), with Malaysian national Bong Hui Ping, 38, who is a shipping manager at the company.
Tan was charged with falsification of papers with intent to defraud, while Bong was charged with abetting those offences by intentionally aiding Tan.
Wee Tiong Holdings is alleged to have sold sugar to customers from North Korea between 2014 and 2016, with the payments for those sales made to the company and its related firm, Morgan Macros.
Tan and Bong are accused of falsifying invoices of both companies between November 2016 and October 2017 in order to “conceal” the companies’ transactions with North Korea-linked entities from two banks, police said.
If found guilty of falsifying papers with intent to defraud, Tan could be jailed for up to 10 years, fined, or both.
“The police take a serious view of persons who abuse Singapore’s financial system and will not hesitate to take swift action against the individuals or parties involved,” the force said.
READ: Singaporean businessman wanted by FBI denies laundering money for North Korea: Report
FBI’S MOST WANTED LIST
A federal arrest warrant was issued for Tan in the United States District Court in New York in August 2018, an FBI notice said.
According to the notice, he is wanted for allegedly conspiring to violate the International Emergency Economic Powers Act (IEEPA) by doing business with North Korean proliferation entities.
The bureau said Tan and others in his company had allegedly fulfilled millions of dollars in commodities contracts for North Korea.
“To do so, Tan Wee Beng allegedly made a concerted effort to launder money through the United States and Singaporean financial systems by concealing payment origins and structuring transactions to avoid regulator scrutiny,” the FBI said.
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2020-06-19 04:35:49Z
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