As part of the ongoing investigations into the scandal swirling around the 1MDB fund, a second former BSI private banker has been convicted in Singapore.
Yvonne Seah Yew Foong, an ex-Banca della Svizzera Italiana (BSI) private banker, today became the second person to be convicted in Singapore’s probe into alleged money laundering linked to 1Malaysia Development Bhd (1MDB)
For aiding in forging documents and failing to report suspicious transactions related to Malaysian financier Low Taek Jho, the Judge found Seah guilty of three charges.
The prosecutors are taking into account four other charges in seeking a two-week jail sentence for Seah, 45, while her lawyer has asked for a fine, according to a report from the Bloomberg news service.
Verdict Due on Third Banker
Seah's case follows the conviction of her former colleague Yak Yew Chee, who was sentenced to 18 weeks jail time and a S$24,000 fine after pleading guilty. He had been charged with seven counts of forgery and of not registering suspicious 1MDB transactions with the regulator.
A verdict is also expected next week on a third former BSI banker, Yeo Jiawei. Yeo claimed trial and the verdict is expected on Dec 21 for charges of tampering with witnesses.
He also faces another seven charges, including for money laundering and cheating. Those are set to be dealt with at a separate trial expected to start in the spring next year.
