Brother of convicted money launderer forfeits $10 million Sentosa bungalow; handed one year jail

Zhang Ruisheng, 54-year-old brother of convicted money launderer Zhang Ruijin, has been found guilty of possessing over $17 million in criminal proceeds. On October 19, he was sentenced to 12 months in jail and agreed to forfeit his Sentosa bungalow and Toyota Veilfire to the state. Ruisheng, who was hired as an "employment advisor" by Golden Eagle Family Office at the time of the offences, claimed the funds were from a property in Macau, but later admitted his guilt.

He also submitted fake documents, including a forged sales and purchase agreement and a fabricated loan agreement, to explain the source of the funds. After his conviction, Ruisheng withdrew the remaining balance of nearly $5 million and used it to purchase another Sentosa Cove property. The prosecution began investigating Ruisheng on August 15, 2023, following the exposure of the criminal network in Singapore.

Ruijin and his wife Lin Baoying, both directors of Golden Eagle Family Office, were each sentenced to 15 months in jail in 2024 and deported to Cambodia in June 2024.