After the dust had settled on a frantic day for Lugano based bank BSI, one of the main parties in the banks downfall, Singaporean banker Yeo Jiawei, was hit with additional charges yesterday.
Against the backdrop of a hectic day for the regulators in both Singapore and Switzerland which saw the demise of the 143 year old Swiss bank, Singapore prosecutors were busily bringing more charges against the banks former employee.
Ex-BSI «Wealth Planner» Yeo Jiawei, now faces a total of nine charges including indictment for money laundering and for perverting the course of justice. The indications are that a trial for this case will also begin soon therefore keeping the disreputable issue in the spotlight.
Latest Charges
Local media «Channel NewsAsia» highlighted the latest charges against Yeo which are for allegedly concealing a portion of the fees he received from deals between his employer, Switzerland's BSI Bank, with two companies, Pacific Harbor Holdings (PHH) and Devonshire Capital Management (DCM).
He is accused of receiving part of the fees through Bridgerock Investment, an entity owned by himself, for the deals that took place in 2013 – thereby inducing BSI to enter into the agreements with PHH and DCM on August 28, 2013 and February 21, 2013 respectively.
Yeo has been held in custody for several weeks, a decision on granting bail to him will be made soon.
