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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal, Financials

1MDB-related charges and bank closure in Singapore

Posted on 04 November 2016

Two senior private bankers of Swiss bank BSI Bank Ltd in Singapore were slapped with a total of 14 charges on Oct 10, 2016, for allegedly being involved in illegal transactions of large amounts of money that originated from 1Malaysia Development Bhd (1MDB).
They are Yak Yew Chee, 57, and Yvonne Seah Yew Foong, 45. Yak and Seah were identified as a managing director and director of BSI Singapore respectively. Aside from charging the two, the Singapore authorities also took several other actions last week………………………………………Full Article: Source


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VRS - who has written 19873 posts on Opalesque Sovereign Wealth Funds Briefing.


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