Singapore jails third banker linked to 1MDB

SINGAPORE: Singapore on Thursday jailed a third private banker for his role in an international money-laundering case involving 1Malaysia Development Berhad (1MDB).
Singaporean Yeo Jiawei, a former wealth manager with Swiss bank BSI, was sentenced to 30 months for witness tampering and obstructing the city-state's 1MDB-linked investigations.
The 33-year-old was convicted on Wednesday following a 12-day trial earlier this year.
In handing down the sentence, judge Ng Peng Hong said he had taken into consideration Yeo's efforts to frustrate investigations, findings of money-laundering and cheating, and the fact that Yeo had committed the offences while on bail.
Other charges of money-laundering, cheating and forgery will be tried next year.
Yeo's lawyer told reporters after the hearing that Yeo was "seriously considering" an appeal against his conviction and sentence.
State prosecutors had pushed for a 36-month sentence.
It was revealed during Yeo's trial that he had close working ties with Malaysian financier Low Taek Jho, also known as Jho Low.
Singapore, a regional financial hub known for its transparency and strong stance against corruption, last year launched a probe into alleged unlawful fund flows linked to 1MDB.
Local authorities have seized nearly US$180 million (RM805.59 million) in assets, with half linked to Low.
BSI and another Swiss bank, Falcon, were kicked out of the city-state this year for what regulators called massive lapses in financial controls. Swiss banks were allegedly used to transfer illicit funds.
Two other former private bankers from BSI have also been jailed in Singapore for fraud in connection with the case. — AFP