Li Huabo, a former local government official in China who fled the country last year, received S$182,700 ($148,000) in stolen money in his Singapore bank accounts, a prosecutor said at the start of a trial.
Li was arrested after a confidential informant told police in February 2011 that he had transferred proceeds of criminal conduct to Singapore, prosecutor Luke Tan said today in Singapore Subordinate Court. Interpol’s Bejing office also sent a notice to Singapore, Tan said.
Li, a Chinese national who had made investments and arrangements to settle in Singapore in early 2010, acquired Singapore permanent resident status and faces a jail term of as long as five years and an unspecified fine for each of the three charges of having received stolen funds. The money was transferred to his United Overseas Bank account between Dec. 6, 2010 and Jan. 15, 2011, according to court papers. Full story
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