The trial of the ex-Banca Swizzera Italiana banker, Yeo Jiawei has re-commenced in Singapore with yet more personal revelations being exposed, including the rapid rise of the personal wealth of the banker.
Prosecutors claimed that the sudden accumulation of wealth by the ex-Banca Swizzera Italiana (BSI) banker came about by illicit means via dealings associated with 1MDB the Malaysian State Fund.
Unbelievable Amount
Yeo Jiawei allegedly made $23.9 million in the space of one year and three months. Mentioned among his «assets» were three real estate investments in Singapore and two in Australia. Under cross examination it was put to Yeo that earning $23.9 million in fifteen months as an intermediary was unbelievable.
However Yeo countered by explaining that the payments were in fact legitimate referral fees from «one of the biggest sovereign wealth funds in the world» according to local media reports.
The trial continues...
