Following probes into contentious Malaysian state investment fund 1MDB, Singapore has charged a former private wealth banker for acquiring property as part of benefits from criminal conduct.
Bloomberg reports that Yeo Jiawei — an ex-banker at the Singapore arm of Swiss private bank BSI SA — was charged under the Corruption, Drug Trafficking and Other Serious Crimes Act. The 33-year-old had proposed investment products to 1MDB and was investigated as part of Singapore's probe into the fund's money flows.