The Monetary Authority of Singapore (MAS) announced yesterday that it intends to issue a permanent prohibition order against Yeo Jiawei, the former BSI Bank employee already convicted of several charges in relation to 1MDB.
According to Channel News Asia, MAS has served notice of its intention to issue the prohibition order, which will prevent Yeo from being involved in any financial advisory or capital market activities.
In July, Yeo was sentenced to 54 months’ jail after pleading guilty to money laundering and cheating charges linked to 1MDB.
He was already serving a 30-month jail sentence after being convicted on four charges of witness tampering while Singaporean authorities were investigating BSI Bank's involvement in the 1MDB scandal.
MAS also issued six-year prohibition orders against two individuals, Ang Wee Keng Kelvin and Lee Chee Waiy, who were involved in 1MDB-related breaches.
Ang, a former representative of Maybank Kim Eng Securities, was convicted of bribing Lee with S$3,000 (about RM9,300) to expedite the preparation of a valuation report on PetroSaudi Oil Services Limited.
With the issuance of the orders, Ang will be prohibited from providing capital market and financial advisory services, or being involved in a firm that specialises in either field.
Lee, meanwhile, will be prohibited from being involved in any financial advisory firm.
A total of six individuals involved in 1MDB-related breaches have been issued prohibition orders by MAS, with notices of intention to issue orders served on another two individuals.- Mkini
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