Ex-BSI banker convicted in Spore over 1MDB

Ex-BSI banker convicted in Spore over 1MDB

Yvonne Seah found guilty on three charges related to money-laundering transactions allegedly involving Malaysian businessman Jho Low.

Yvonne-Seah-Yew-Foong
SINGAPORE:
Yvonne Seah Yew Foong, a former BSI SA private banker, became the second person to be convicted in Singapore’s probe into alleged money laundering linked to 1MDB.

Seah, 45, was convicted of three charges in a Singapore state court today, for aiding in forging documents and failing to report suspicious transactions allegedly related to Malaysian financier Low Taek Jho, who is better known as Jho Low.

Prosecutors will take into account four other charges in their sentencing request. Seah’s supervisor Yak Yew Chee is serving an 18-week jail term after being convicted in November for similar offences.

Both Yak and Seah serviced the accounts of Low, 1MDB and related entities and were among six BSI employees referred to prosecutors by Singapore’s central bank, Monetary Authority of Singapore.

BSI was ordered in May to shut after authorities found serious anti-money laundering breaches.

Low, identified by Singapore as a key person of interest in its 1MDB-linked investigation, has previously described his work with 1MDB as informal consulting work that didn’t break any laws.

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