Tech CEO Charged With Laundering S$38 Million in Bungalow Purchase; Bail Raised to S$1.25 Million

Alan Wei Zhaolun, CEO of Aperia Group, has been charged with laundering S$38 million in the purchase of a bungalow and acquiring S$3.2 million from criminal proceeds. Wei, 50, pleaded not guilty to all charges, with his legal team stating they are "misconceived."

These new charges bring Wei's total to 11, primarily related to conspiring to commit fraud in the purchase of computer servers. These servers allegedly contained Nvidia chips, which were moved in violation of U.S. export controls. The investigation stems from U.S. inquiries into whether the Chinese start-up DeepSeek bypassed restrictions on advanced Nvidia chips by acquiring them from third parties in countries like Singapore.

Wei is accused of conspiring with Aperia Group's CFO, Jenny Lim, and head of sales, Aaron Woon Guo Jie. They allegedly submitted fraudulent end-use/end-user certification forms to tech firms, including Dell, Super Micro Computer, and Asus, falsely claiming the servers were for Aperia Group companies. Three Aperia entities are also charged with fraud offenses.

Wei's bungalow at 12 Chee Hoon Avenue, purchased for S$55 million between July and October 2024, is subject to a prohibition of disposal order. Approximately S$38 million of the purchase price is considered the alleged benefit of criminal conduct. Wei's bank accounts also reportedly received S$5.8 million over two periods in 2024, with about S$3.2 million allegedly stemming from criminal activities.

Wei's lawyers argued against the prosecution's request to increase his bail from S$800,000 to S$1.25 million, noting the charges were anticipated. They also highlighted the cooperation of Wei and the Aperia companies, which are reportedly operating to the best of their ability.

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