May 12 2016
Singapore charged a former wealth manager at Swiss private bank BSI on Thursday with forgery as part of a money laundering investigation related to 1Malaysia Development Berhad (1MDB).
The forgery charge is the seventh filed against Yeo Jiawei, a 33-year-old Singaporean, who is also facing accusations of money laundering and cheating.
Singapore authorities are conducting a wide-ranging money-laundering probe into bank accounts linked to 1MDB, whose activities have triggered investigations across three continents. The prosecutors charged Yeo with “fraudulently” signing a reference letter to the head of anti-money laundering and sanctions compliance of Citigroup Inc in Europe. The letter was written to help facilitate the transfer of $11.95 million from SRC International (Malaysia) Ltd, a British Virgin Islands-registered company, from its BSI account in Switzerland.
The money went to Affinity Equity International Partners Ltd, a company beneficially owned by Tan Kim Loong in an account at DBS Bank using Pacific Harbor Global Growth Fund AA4 as an intermediary, the prosecutors’ affidavit said.
Yeo had been previously charged with cheating BSI by concealing from his former employer that he would be receiving $1.6 million a year from Brazen Sky Ltd, a financial vehicle owned by 1MDB, which was holding fund units at an account with BSI Singapore.