Former BSI banker suddenly earned a Big Fortune after leaving the bank in Singapore

Prosecutors said on Tuesday former BSI banker Yeo Jiawei earned S$23.9 (US$ 16.7) million , in 15 months as an “independent consultant”, through “illicit means”, including secret deals with people linked to the multi-jurisdictional probe into scandal-hit Malaysian state fund 1MDB.

In court on Tuesday, Yeo revealed that his net worth was around S$2 (US$ 1.39) million  when he left BSI bank in Singapore. This was from his basic salary and bonuses earned while he was an employee there.
In his cross examination on Tuesday, Deputy Public Prosecutor Tan Kiat Pheng said it was “quite unbelievable” that Yeo could amass so much by acting as a mere “introducer, intermediary, independent consultant or relationship manager”.

While the former banker did not mention his clients by name, the court had heard earlier in the trial that Yeo’s clients included 1Malaysia Development Bhd (1MDB) and Abu Dhabi-owned International Petroleum Investment Company (IPIC) subsidiary Aabar Investments PJS.

Yak was sentenced last week to 18 weeks' jail and fined S$24,000 (US$ 16,774) for forgery and for failing to disclose information on suspicious transactions, the first person to be sentenced here in the 1MDB-linked probe.

A verdict is expected on December 21, for charges of tampering with witnesses. Yeo faces another seven counts, including for money laundering and cheating. Those will be dealt with at a separate trial expected to start in April next year.