A Singapore court jailed Yak Yew Chee on Friday, a former banker who handled Swiss bank BSI’s relationship with state investor 1Malaysia Development Bhd (1MDB) for 18 weeks for forgery and failure to disclose suspicious transactions, as Reuters referred.
Yeo Jiawei, former private banker, went on trial in Singapore on Monday in the first prosecution of suspects linked to a massive international money-laundering scandal centred on Malaysian state fund 1MDB.
State prosecutors described the sums involved as “staggering” and said Yeo allegedly pocketed $18.7 million.
Yeo, 33, did so through various means, including “illicit” schemes to swindle his own bank, added prosecutors, who accused him of playing a central role in the “most complex, sophisticated and largest” money-laundering case that the Commercial Affairs Department (CAD) has ever come across, as the written statement issued at the trial reported.
