Singapore Finds Former BSI Banker Guilty Of Perverting Course Of Justice

Josh O'Neill

22 December 2016

A Singapore court has found a former banker guilty of perverting the course of justice amid the city-state's ongoing investigation into an alleged multi-billion dollar money laundering scheme at Malaysia's state-owned fund.

The investment fund 1MDB is currently the subject of money laundering investigations in at least six countries, including Switzerland, Singapore and the US.

Yeo Jiawei - whose former colleagues Yak Yew Chee and Yvonne Seah were recently sentenced to imprisonment - was first arrested in March this year in connection with Singapore's largest money laundering probe linked to the 1MDB scandal.

Earlier this week, the court found the 34-year-old guilty on all four counts of perverting the course of justice for urging witnesses to lie to the police while he was out on bail.

A separate trial, where Jiawei faces seven other charges including money laundering and cheating, is expected to begin next year.

Earlier this year, BSI and Falcon Private Bank were both shut down in Singapore amid the country's biggest crackdown on alleged money laundering connected to 1MDB.