Singapore Police Force charges four individuals over an alleged multi-national trade-based money laundering scheme involving gold smuggling and VAT fraud

The four defendants were charged over suspected money laundering and fraudulent business activity linked to a VAT carousel fraud scheme involving gold concealed inside signal converters imported from China. Singapore Police say the goods were dismantled in Singapore, the gold extracted and sold, and mainboards exported back through Hong Kong companies to create a paper trail of sham transactions disguised…