Billion-dollar money laundering case: Two former bank employees handed prohibition orders
The Monetary Authority of Singapore issued Wang Qiming with a 16-year prohibition order and Liu Kai with a seven-year prohibition order barring their involvement in various MAS-regulated activities, among other restrictions.
The logo of the Monetary Authority of Singapore on Feb 13, 2026. (File photo: CNA/Ili Mansor)
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SINGAPORE: Prohibition orders have been issued against two former bank relationship managers convicted of offences related to money laundering, said the Monetary Authority of Singapore (MAS) on Tuesday (Mar 17).
Given "the gravity of their misconduct", the authority said that it issued a 16-year prohibition order against Wang Qiming and a seven-year prohibition order against Liu Kai.
Under the prohibition orders, Wang, 26, and Liu, 36, are not allowed to perform any MAS-regulated or authorised activity or business.
They are also barred from participating in the management of any financial institution and from acting as a director, partner or manager of any financial institution.
In addition, the pair are prohibited from becoming, or increasing their interest as a substantial shareholder of, any financial institution that is a corporation.
Wang and Liu, both Chinese nationals, were convicted of charges related to a major money-laundering case in August 2023.
Wang, a former Citibank relationship manager, was convicted of four offences, including forgery, money laundering, and obstructing justice, in October 2025. He held S$481,678 (US$377,100) in laundered cash for convicted money launderer Su Baolin.
Six other charges were taken into consideration for sentencing.
Wang was sentenced to two years' jail.
The same month, Liu, a former relationship manager at Julius Baer, was convicted of one charge of using a forged document to cheat the private bank.
He was sentenced to four months’ jail.
MAS said given their offences, it is satisfied that Wang and Liu are not fit and proper persons under guidelines set out in the Financial Services and Markets Act.
