Singaporean wanted by the US for global insider trading denied bail again
Ge Zhi applied to be released on bail again through Singapore's High Court, saying that he was blind and sick.
A view of the Supreme Court building in Singapore.
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SINGAPORE: A Singaporean man wanted in the United States for being the alleged leader of a global insider trading scheme and money laundering has been denied bail again by a Singapore court.
Ge Zhi, 34, was arrested in July 2024 by officers from the Commercial Affairs Department of the Singapore Police Force, as part of a request made by the US for securities-related offences.
The US government issued a formal extradition request for him in August 2024, and he was indicted on and had an outstanding warrant of arrest for six charges, including conspiracy to commit securities fraud and conspiracy to commit money laundering.
The US government alleged that Ge was the leader of an international syndicate between November 2016 and February 2024, engaging in an insider trading scheme and money laundering to conceal proceeds from securities fraud.
Ge, whose wife is a Singapore permanent resident and they have two daughters, describes himself as a "trader by profession" and "entrepreneur". He contested the extradition, maintaining his innocence of the allegations.
He applied to the State Courts on Nov 6, 2024 to be released on bail, saying he was sick or infirm.
However, a district judge dismissed his application the following month.
Ge then applied to the High Court for bail, pending proceedings that would extradite him to the US.
He repeated that he was sick or infirm and mentioned "exceptional humanitarian circumstances", including "documented inadequacies in prison medical facilities" and his "strong community ties" that eliminate his flight risk.
He said that he was "legally blind" in his left eye due to a traffic accident in 2015 and has a pre-existing diagnosis of bipolar disorder.
Ge claimed that his conditions had worsened since being remanded, alleging that the standard of treatment he was receiving from the Singapore Prison Service was "poor".
In a judgment published on Tuesday (May 26), Justice Tay Yong Kwang dismissed the application.
He found that the district judge had made no error in coming to her decision to deny bail.
Justice Tay acknowledged Ge's blindness and noted that it was an infirmity within the literal meaning of the word, but accepted evidence from the Singapore Prison Service saying that the eye condition was a permanent one that would not change regardless of whether Ge was released on bail.
The court rejected Ge'' contention that the Singapore Prison Service could not manage his bipolar condition safely and dismissed his application for bail.
The extradition proceedings will take place at a later date.
