Bedok resident behind 185 companies; nine are linked to billion-dollar money laundering bust

News Snapshot:

SINGAPORE - The listing of a Singapore resident as director, secretary and shareholder of 185 companies here has sparked concerns, after it emerged that several of the firms were linked to three of the 10 money laundering suspects arrested on Aug 15. Experts say it is not possible for an individual to be involved in so many companies, adding that such appointments should raise a red flag. Foreigners without a Singpass must engage a registered filing agent such as a law firm, an accounting practice or a corporate secretarial company to submit applications on their behalf. All agents are required...