Yeo Jiawei, a former banker serving the longest jail term in Singapore’s 1MDB investigations, admitted to charges including money laundering. Yeo played a role in the transactions involving the fund and made secret profits on the side, prosecutors said. Yeo, who also pleaded guilty to cheating his former employer, agreed to help with Singapore’s money-laundering […]

Swiss national Jens Fred Sturzenegger, the branch manager for Falcon Private Bank in Singapore, has been charged with failing to report suspicious transactions and giving false information to authorities in connection with the scandal-plagued 1MDB Malaysian state wealth fund. 1MDB is currently under investigation in several countries after allegations arose that it was used to transfer state […]

Swiss national Jens Fred Sturzenegger, the branch manager for Falcon Private Bank in Singapore, has been charged with failing to report suspicious transactions and giving false information to authorities in connection with the scandal-plagued 1MDB Malaysian state wealth fund. 1MDB is currently under investigation in several countries after allegations arose that it was used to transfer state […]

Singapore’s central bank has fined Standard Chartered Bank and Coutts for anti-money laundering breaches related to 1MDB and also plans to bar one prominent former Goldman Sachs banker from working in Singapore’s securities industry for 10 years owing to his involvement in the scandal surrounding the Malaysian state investment fund. The Monetary Authority of Singapore […]

The Monetary Authority of Singapore (MAS) has imposed multi-million dollar fines on the Singapore branches of Standard Chartered bank and Coutts & Co for breaching anti-money laundering regulations in relation to 1MDB-related fund flows through these banks, MAS said in a release on Friday (Dec 2). StanChart was fined S$5.2 million and Coutts was fined […]

SINGAPORE — The number of suspicious transaction reports has almost doubled between 2012 and last year, according to the annual report of the Commercial Affairs Department (CAD). In 2012, there were 17,975 reports made to the Suspicious Transaction Reporting Office (STRO), the CAD unit which receives and analyses reports of suspicious financial transactions. The figure […]

THE Singapore Court has sentenced two senior executives to prison for money laundering offences surrounding a community college project in Papua New Guinea. American citizen Thomas Philip Doehrman, 68, director of Quest Petroleum (Singapore), was sentenced to 70 months of jail time. Singaporean national Lim Ai Wah, Doehrman’s spouse and director of Questzone Offshore, was […]

As part of its ongoing effort to strengthen its enforcement against market misconduct, the Monetary Authority of Singapore (MAS) has for the first time reportedly charged three individuals with front-running offences This represents one of the first joint investigations by the MAS and the Commercial Affairs Department of the Singapore police that has resulted in […]