Kelvin Ang Wee Keng, the second person charged in connection with Singapore’s on-going investigation of Malaysian wealth fund 1MDB, will have his pre-trial conference next month.
To-date, two individuals Yeo Jiawei, who faces several charges, and Kelvin Ang Wee Keng have been charged for various offences. Several other individuals are still being questioned or investigated.
According to the business publication «The Edge», Kelvin Ang Wee Keng, who is the second person charged in connection with Singapore’s continuing investigation of 1MDB is set to have his next pre-trial conference on Sept 22. His trial date has not been fixed yet.
Favourable Valuation Produced
Ang, who was with Maybank Kim Eng, is charged with paying former research analyst Lee Chee Waiy with $3,000 to expedite a favourable valuation report on a 1MDB asset held in the Cayman Islands and managed by Bridge Capital Partners.
In the course of the investigations, bank accounts belonging to various individuals have been seized and dealings in properties belonging to some of these individuals have been curtailed. The assets amount in total to S$240 million.
Kelvin Ang is currently out on bail of $100,000.
