A businessman on the United States Federal Bureau of Investigation's (FBI) most-wanted list for allegedly laundering millions of dollars for North Korea was fined $210,000 in a Singapore district court yesterday over offences linked to that country.
Tan Wee Beng, now 44, the Singaporean managing director and shareholder of commodity trading firm Wee Tiong here, pleaded guilty to seven counts of falsifying invoices to hide his business dealings with North Korea from two Singapore banks.
Another 13 similar charges were taken into consideration for sentencing.
He is also a director and shareholder of Wee Tiong's sister company, Morgan Marcos.
In a statement yesterday, the police said the United Nations (Sanctions - DPRK) Regulations 2010 prohibits anyone in Singapore or Singaporeans outside the city-state from supplying, selling or transferring any designated export or luxury item to people in North Korea.
From Nov 8, 2017, the prohibition includes all commercially traded goods to or from North Korea.
The court heard that Tan sold sugar to two North Koreans - Mr Ri Nam Sok and Mr Jon Chol Ho. He began trading with Mr Ri in 2007 or 2008 and Mr Jon in 2010.
Tan's lawyer, Ms Josephine Chee, earlier stressed that trade with North Korea was not illegal before Nov 8, 2017.
The court heard that Wee Tiong maintained accounts with OCBC Bank while Morgan Marcos had accounts with UOB.
Between November 2016 and October 2017, Tan received queries from both banks about certain deposits. He knew the deposits were payments for goods sold to Mr Ri and Mr Jon.
He was concerned that the banks would terminate their relationship with the firms if they found out about his dealings with North Koreans.
The court heard that Tan and Bong Hui Ping, now 39, who was then working as a shipping manager at Wee Tiong, falsified invoices.
The Malaysian woman changed the names of buyers and destination ports to remove any links to North Korea. Tan signed and sent these invoices to UOB and OCBC Bank. Bong's case is still pending in the Singapore courts.
Tan is on the FBI's most wanted list as he is accused of crimes including money laundering and conspiracy to defraud the US.
A federal arrest warrant was issued for Tan in August 2018. The Straits Times has contacted the authorities here to ask whether the US has made an extradition request for Tan.
