Su Wenqiang, 32, entered the plea during a court hearing on Tuesday. He faced 11 charges including for forgery and laundering criminal proceeds through activities like buying multiple bottles of prized liquor and paying S$48,000 a month to rent a luxury condominium near the city-state’s Orchard Road shopping belt.

The plea will mark the next chapter in a scandal that has ensnared the world’s largest banks and raised questions about the financial hub’s safeguards against illicit money flows. More developments are in store this week with at least one other suspect in remand also planning to plead guilty, according to a scheduled court hearing.

Su was born in China’s Fujian province and holds multiple passports including those from Cambodia and Vanuatu. He was accused of seeking to launder proceeds from an illegal remote gambling service in the Philippines targeting people in China.