Singapore: Trial of ex-BSI banker Yeo Jiawei kicks off in Singapore, first in international 1MDB probe

Author(s): Grace Leong | Date: October 31, 2016 | Language: English
Source: http://www.straitstimes.com/ | URL: https://goo.gl/Bdwv9x | Type: Text

The prosecution will call nine witnesses in its case against former BSI banker Yeo Jiawei – the first person to be tried for the key role he allegedly played in a massive money laundering operation linked to scandal-hit 1Malaysia Development Bhd (1MDB) fund.
Deputy Public Prosecutor Tan Kiat Pheng, in his opening statement on Monday (Oct 31) to a packed court room, called the trial the “most complex, sophisticated and largest money laundering case handled by the CAD (Commercial Affairs Division)”, involving the movement of “staggering amounts of moneys across jurisdictions over the course of several years”.
Yeo, 33, is accused of facilitating illicit transactions involving 1MDB that led to the shutdown of Swiss private bank BSI’s operations here. He faces a total of 11 charges ranging from money laundering and cheating to forgery and obstruction of justice.

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