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Ex-BSI banker gets 30-month sentence in 1MDB probe


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Ex-BSI banker gets 30-month sentence in 1MDB probe

A former BSI SA banker, Yeo Jiawei, was sentenced to 30 months in jail after being convicted by a Singapore court of three charges of obstructing justice in a 1Malaysia Development Bhd. probe, the Financial Times reported Dec. 22.

Yeo was prosecuted for obstructing a broader police investigation involving Jho Low, a Malaysian businessman accused of playing a significant role in 1MDB's money laundering. Prosecutors said Yeo also attempted to conceal his own illicit wealth.

According to the prosecution, Yeo was a link between Low; Mohamed Badawy al-Husseiny, an Abu Dhabi official; and UBS Group AG. U.S. prosecutors have alleged that funds were diverted from 1MDB into accounts owned by al-Husseiny, while the Swiss bank has been fined in Singapore over lapses in anti-money laundering procedures.

Yeo is the third former BSI banker to be convicted in a series of trials linked to 1MDB, and will face money-laundering charges in a separate trial in 2017.