Fugitives in S$3B money laundering case built HK$1.2B property empire; bought UK homes for S$70M

SINGAPORE: Fugitive businessman Su Binghai, 37, has emerged as one of the central figures in Singapore’s S$3 billion money-laundering case, with newly uncovered records revealing extensive property and asset holdings across Hong Kong and the United Kingdom.

An investigative report by The Straits Times (ST) and the Organised Crime and Corruption Reporting Project (OCCRP) found that Su, together with another fugitive, Xu Haika, who both fled Singapore in August 2023, purchased nearly S$70 million worth of London properties while on the run.

Separately, HK01 reported that Su invested about HK$1.2 billion (≈US$153 million) in Hong Kong real estate.

According to HK01, Su’s Hong Kong portfolio includes luxury apartments, office floors, and an entire commercial building in Central.

Among the assets is The Voeux, formerly the James Commercial Building at 102 Des Voeux Road Central, which he acquired in April 2021 from the late property tycoon Tang Shing-bor for about HK$438 million (≈US$55.9 million).

The 11-storey building, renamed after renovation in 2023, is now valued at about HK$500 million (≈US$63.8 million).

Su owns it through Supreme Leader Limited, where he is the sole shareholder and director.

His Hong Kong holdings also include:
– Two luxury apartments at The Ultima in Ho Man Tin, bought for nearly HK$200 million (≈US$25.5 million) in 2017.
– Two office floors and car parks at Capital Tower in Kowloon Bay, valued at HK$430 million (≈US$54.9 million).

Another associate, Su Fuxiang, linked to Su’s New Future group of companies, holds properties worth about HK$350 million (≈US$44.7 million), including five units at Cullinan West and offices at CORE45 in Kwun Tong.

From mainland fraud case to Hong Kong financier

Born in Anxi County, Fujian, in 1988, Su was accused in 2015 of involvement in a “click-farming” scam in mainland China involving transactions exceeding 90 million yuan renminbi (≈US$12.7 million).

Two years later, he founded New Future International Limited, a Hong Kong private-equity firm focused on mergers, acquisitions, and technology investments.

Its now-defunct website once claimed to support projects in graphene research, virtual reality, and facial-recognition technology.

Corporate filings reviewed by HK01 show that Su resumed the company’s operations on 18 July 2025, despite being subject to asset freezes abroad.

Escape from Singapore and UK asset trail

Su fled Singapore hours before a major anti-money-laundering operation on 15 August 2023 involving 400 police officers, which led to 10 arrests and 17 fugitives.

He crossed into Malaysia and departed from Kuala Lumpur on 17 August 2023.

Within a week, Su purchased nine luxury apartments at The Broadway, near Buckingham Palace in London, for about S$27 million (≈£15.7 million).

The properties were acquired through UK-listed entities linked to him, according to property deeds reviewed by ST and OCCRP.

The United Kingdom’s National Crime Agency (NCA) later seized the assets after the High Court issued an Unexplained Wealth Order (UWO) and freezing order in April 2025.

Dinosaur fossils and artworks seized in the UK

The NCA confirmed on 7 November 2025 that it had reached a settlement with Su and his firm Su Empire Limited under the Proceeds of Crime Act to recover assets worth £27 million (≈US$35.2 million).

These included:
– Three Jurassic-era dinosaur skeletons, purchased at a London auction in December 2024 for £12.4 million.
– Nine London apartments valued at £15.7 million.
– Eleven Chinese artworks acquired in 2022 for more than £400,000.

Under the settlement, 75 per cent of the sale proceeds will go to the NCA, with Su retaining 25 per cent. The agency noted that, although no criminal charges were filed in the UK, the assets were deemed proceeds of crime.

NCA official Rob Burgess, head of Asset Denial, said: “The result is the same, be it cash, houses, or dinosaur bones — preventing people from benefiting from illicit wealth.”

Settlement with Singapore

In October 2024, Su and his wife Wang Manzu reached an agreement with Singapore authorities to surrender S$316.6 million in assets — including properties and luxury vehicles — in exchange for the withdrawal of Interpol Red and Blue Notices.

The couple were permanently barred from returning to Singapore.

Su reportedly continues to own properties in Dubai valued at about S$1.2 million.

Resumed Hong Kong business operations

Despite the forfeiture of substantial overseas holdings, Su has maintained corporate control in Hong Kong, according to HK01.

Records show that New Future International Ltd officially resumed business on 18 July 2025, with Su listed under his Chinese passport as director.

His company Supreme Leader Limited, which owns The Voeux, also remains active. Its previous director, Yeung Kwok Wing, resigned in May 2025 and was replaced by Zhan Weituan, a Chinese national linked to several automotive firms.

The Voeux building and Su’s Kowloon Bay offices are currently leased to commercial tenants, with no new acquisitions recorded since his flight from Singapore in 2023.