A Singapore technology company chief executive has been charged with laundering about S$38 million in alleged criminal proceeds through the purchase of a Good Class Bungalow, adding a new twist to a high-profile fraud case already under international attention.
SINGAPORE: A Singapore technology company chief executive has been charged with laundering about S$38 million in alleged criminal proceeds through the purchase of a Good Class Bungalow, adding a new twist to a high-profile fraud case already under international attention.
Alan Wei Zhaolun, 50, CEO of Aperia Group, now faces 11 charges in total after prosecutors added two money laundering-related offences. Wei has denied all allegations. The court also raised his bail from S$800,000 to S$1.25 million, Channel NewsAsia reported . Court documents state that Wei allegedly bought a Good Class Bungalow at 12 Chee Hoon Avenue for S$55 million between July and October 2024.
Wei also faces another charge of acquiring about S$3.2 million in alleged criminal proceeds through money deposited into his bank accounts. The deposits totalled about S$5.8 million over two periods in 2024. The latest charges come on top of an ongoing fraud case involving the purchase of computer servers containing Nvidia chips.
Wei, along with Aperia Group chief financial officer Jenny Lim and head of sales Aaron Woon Guo Jie, is accused of conspiring to submit false end-user information to technology companies, including the Singapore branches of Dell Global B.V. , Super Micro Computer, Inc. , and Asus Global. Prosecutors allege the forms falsely stated that companies within Aperia Group would be the end-users of the servers.
The case drew attention after US investigations examined whether the Chinese AI start-up DeepSeek obtained advanced Nvidia chips through third parties in countries including Singapore, despite US export controls. Three Aperia companies — A-Speed Infotech, Aperia International and Aperia Cloud Services — also face related fraud charges. Wei’s legal team from WongPartnership told the court he denies all wrongdoing and believes the new charges are based on a mistaken understanding of the facts.
His lawyers also said the company and its executives have cooperated with investigators throughout the case. After the hearing, an Aperia Group spokesperson said the allegations involve commercial transactions across several countries that required compliance with different regulatory rules. The company denied wrongdoing and said it would continue operating while cooperating with the authorities. The latest charges significantly raise the stakes.
A person convicted of converting criminal proceeds can be jailed for up to 10 years, fined up to S$500,000, or both. Anyone convicted of conspiracy to commit fraud through false representation can face up to 20 years’ jail and a fine. The companies themselves could also be fined if convicted. Cases involving alleged financial crime and international technology trade are becoming more complex as supply chains stretch across multiple countries.
Accurate compliance records and truthful declarations are crucial. Whatever the final outcome, the courts will now decide whether the prosecution can prove its case beyond a reasonable doubt.
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