HALISTER1: Singapore High Court Denies Bail for Ex-BSI Banker

Singapore High Court Denies Bail for Ex-BSI Banker

(Bloomberg) -- Singapore’s High Court denies bail for former BSI SA private banker caught up in probes related to 1Malaysia Development Bhd.
  • Yeo Jiawei, 33, faces total of 9 charges including money laundering and cheating his former employer and has been in remand since Apr. 15
  • High Court judge says Yeo likely to interfere with witnesses and act to destroy evidence
  • Prosecutors sought High Court review after objecting to district judge’s decision Thursday to allow Yeo out on bail
  • Prosecutor says Yeo received secret profits of at least $18m and tried to interfere with evidence by contacting no less than five witnesses
  • Yeo played central role in the Monetary Authority of Singapore’s decision to shut down BSI operations in the city-state and is involved in largest money laundering investigation in Singapore: prosecutor
  • NOTE: BSI Ordered Shut in Singapore as Swiss Launch Criminal Action {FIFW NSN O7O3E46JIJUQ }
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
0206021D MK (1Malaysia Development Bhd)
MASP SP (Monetary Authority of Singapore)
BBTG11 BZ (BTG Pactual Group)

People
Yeo Jiawei (BSI Bank Ltd)

Topics
Market Structure

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