December 19, 2017
Singapore has issued a lifetime Prohibition Order (PO) against Yeo Jiawei and a three-year PO against Kevin Scully, the Monetary Authority of Singapore said in a statement on Tuesday. Including these latest actions, MAS has issued to-date POs against a total of eight persons involved in 1MDB-related breaches.
1MDB, founded by Malaysian Prime Minister Najib Razak, is facing money laundering probes in at least six countries including the US, Switzerland and Singapore. Yeo, a former Wealth Manager of a Swiss private bank BSI SA, was investigated by the Commercial Affairs Department (CAD) on 1MDB-related matters and convicted by the State Courts of Singapore on a number of charges, including money laundering, cheating, and tampering of witnesses.