SINGAPORE – OCBC Bank has sued a suspect involved in Singapore’s biggest money laundering case, marking the first known attempt of a lender here taking action to recover losses related to the case.

South-east Asia’s second-largest bank filed a claim in November against Su Baolin, a Cambodian passport holder, seeking about $19.7 million, mostly from a residential mortgage, according to legal documents seen by Bloomberg. The hearing date was set for Dec 1.

Su is among the 10 Chinese-born individuals arrested in Singapore in August for offences including money laundering and forgery.

He is facing two charges so far, both on forgery.

OCBC applied for a court order to seize a mortgaged bungalow under construction in Sentosa Cove.

Su has also been ordered to repay $19.5 million in a housing loan, plus interest, and some $220,570 in credit card debt, according to the suit.

The lender declined to comment on the lawsuit. An affidavit showed two failed attempts to deliver the suit to Su as no one answered the intercom at his mailing address.

The Business Times reported in November that Su had submitted plans to build a two-storey detached house with a swimming pool in Sentosa Cove, before his arrest in August.

He had purchased the property in March 2021 for slightly more than $39.33 million from tycoon Lim Chin Huat.

Located on a 1,816.3 sq m plot of land in Ocean Drive, the site offers unblocked sea views and faces Marina Bay Sands.

Su has been held in remand since his arrest on Aug 15.

The Singapore police have seized about $99 million of assets in properties, cash, bank accounts and cryptocurrencies in the names of Su and his wife.

More than $2.8 billion of assets have been frozen or seized by the police since the islandwide raid in August, including more than 150 properties linked to the 10 individuals arrested.

The ongoing scandal sent shockwaves across Singapore, a global financial hub dubbed “Switzerland of the East”, given its attraction among the wealthy. BLOOMBERG