Four people were charged in Singapore on 8 July in connection with an alleged VAT-carousel fraud and trade-based money-laundering arrangement involving gold smuggling. The Singapore Police Force said the defendants, all in their early sixties, were suspected of operating companies for fraudulent purposes.
The alleged structure is a reminder that trade-based money laundering can hide value inside apparently ordinary commercial activity. Investigators often have to compare customs records, invoices, corporate relationships and the physical goods being moved to identify inconsistencies.
The charges are allegations. The defendants are entitled to the presumption of innocence unless and until convicted by a court.