1MDB: Jho Low private banker's name first to emerge from Singapore probe
Astro Awani
February 2, 2016 20:48 MYT
February 2, 2016 20:48 MYT
The Straits Times reports that the name of a senior private banker - with links to Low Taek Jho - has emerged following the probe of 1MDB in Singapore.
The name of a senior private banker has emerged on the ongoing probe by Singapore authorities into bank accounts related to national strategic investment agency, 1Malaysia Development Berhad (1MDB).
According to a report by Singapore’s The Straits Times which cited various sources, the name which emerged is Yak Yew Chee, who is attached with BSI Singapore, a Swiss bank.
The English news portal also reported that Yew Chee was the relationship manager for 1MDB Global Investments Ltd, Aabar Investment PJS Limited and SRC International Sdn Bhd and Low Taek Jho, also known as Jho Low.
As part of the investigations surrounding 1MDB Global, several of his bank accounts amounting to $10 million (RM29.54 million) were frozen in September last year.
Sources also said he is applying for the release of some of his bank accounts for the payment of taxes, legal fees, and basic expenses.
On Monday, the Monetary Authority of Singapore and the republic’s Commercial Affairs Department have seized a large number of bank accounts amidst the probe into 1MDB, as reported by Channel News Asia.
In a joint-statement, the authorities said Singapore does not tolerate the use of its financial system as a refuge or conduit for illicit funds.
The two agencies also said since the middle of last year, they have been actively investigating possible money-laundering and other offences carried out in the Republic.