The Singapore financial regulator is looking into new information about corruption at Malaysia's state fund 1MDB. Individuals linked to the fund won't sleep easily.
«We are still looking at individuals and there are others we are looking forward to interview,» said Ravi Menon, head of the Monetary Authority of Singapore, speaking at the release of the regulators annual report, according to «Channel News Asia». «We’re looking very closely at new information that’s emerging from Malaysia and other places to see if any action on our part is warranted.»
(MAS' annual report 2017/2018)
Bankers Banned
The Monetary Authority of Singapore has banned eight bankers involved in the graft scandal, including Tim Leissner, an ex-Goldman Sachs manager for southeast Asia, and Swiss banker Jens Sturzenegger, the branch manager of Falcon Private Bank, which later was shut down over its role in the 1MDB scandal.
Charges filed against former Malaysian Prime Minister Najib Razak in Kula Lumpur Wednesday now ups the ante the for several bankers and others linked to the probe. Malaysian financier Low Taek Jho, who is being sought by the U.S., Singapore and Malaysia, is reportedly holed up in Dubai, from where he cannot be extradited.
Others, including Swiss banker Hanspeter Brunner still await their fate in Singapore. Brunner was head of the Asian arm of private bank Banca della Svizzera Italiana, or BSI, which was shut down in the city-state due to its dealings with 1MDB and Low.
