Ex-BSI banker’s 1MDB-linked trial in S’pore postponed
Former BSI banker Yeo Jiawei's trial in Singapore on money-laundering charges linked to Malaysia’s troubled sovereign fund 1MDB has been postponed.
The Singapore edition of financial weekly The Edge in an online report today said the trial will not kick off next month as originally scheduled...
Former BSI banker Yeo Jiawei's trial in Singapore on money-laundering charges linked to Malaysia’s troubled sovereign fund 1MDB has been postponed.
The Singapore edition of financial weekly The Edge in an online report today said the trial will not kick off next month as originally scheduled.
It quoted Singapore’s Attorney-General’s Chambers as having made the decision following a pre-trial conference on Monday.
The report said no new dates have been set for the actual trial but another pre-trial conference will be held on April 13.
Yeo, 34, is currently serving a 30-month sentence after being convicted last year for tampering with witnesses while Singapore authorities were investigating BSI Bank's involvement in the 1MDB scandal.
In January, Yeo's lawyer had confirmed plans to appeal his conviction but declined to reveal further details.
Yeo is accused of facilitating illicit transactions involving 1MDB, which prompted Singapore regulators to shut down the bank's operations.
He was also described as being a part of a widening web of private bankers in Singapore who have been implicated in the 1MDB scandal.
The Monetary Authority of Singapore (MAS) on Monday slapped former Goldman Sachs executive Tim Leissner with a 10-year ban from working in the financial industry.
Leissner was reportedly a key figure in Goldman Sachs' effort in raising US$6.5 billion through the sale of three bonds in 2012 and 2013.
Goldman Sachs reportedly made US$593 million in commissions through that deal.
MAS has also proposed serving similar prohibition orders against three other bankers with 1MDB links.
MAS is seeking a lifetime trading ban against former Singapore Falcon Private Bank branch manager Jens Sturzenegger and former Singapore BSI Bank employee Yak Yew Chee.
They are also seeking a 15-year ban against Singapore BSI Bank employee Yvonne Seah Yew Foong, who was convicted of three charges, including forgery and failure to disclose suspicious transactions involving tycoon Low Taek Jhon or Jho Low, an associate of Malaysian Prime Minister Najib Abdul Razak.
In January, Sturzenegger, a Swiss national, was sentenced to 28 weeks' jail and ordered to pay a fine of S$128,000 after pleading guilty to multiple charges for failing to report suspicious transactions.
Najib has been implicated in the scandal, but he has repeatedly denied any wrongdoing.


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