07
Nov
16

Banker in 1MDB case worked with Jho Low, says witness

Banker in 1MDB case worked with Jho Low, says witness

The witness, ex-BSI managing director Kevin Swampillai, said Yeo travelled on a private jet used by Low and exchanged secretive text messages with the businessman.

SINGAPORE: A private banker on trial in Singapore for his alleged role in Malaysia’s 1MDB fund scandal worked closely with a friend of Malaysian Prime Minister Najib Razak, a court heard Tuesday.

A prosecution witness told a district court that Singaporean Yeo Jiawei, 33, left his job at the local branch of Swiss bank BSI in 2014 to work with Low Taek Jho (Jho Low), a family friend of the Malaysian leader, and they conducted business in a secretive way.

Allegations of misappropriations of billions of dollars from 1MDB through money-laundering have triggered a corruption scandal in neighbouring Malaysia that has embroiled Najib. The prime minister, 1MDB and Low have strongly denied any wrongdoing.

The witness, ex-BSI managing director Kevin Swampillai, said Yeo travelled on a private jet used by Low and exchanged secretive text messages with the businessman.

“When Yeo worked with Low Taek Jho and consulted with his associates, there was a great degree of secrecy around what they did, how they spoke to each other, and apparently fictitious names were used when referring to certain individuals,” Swampillai told the court.

Low, also known as Jho Low, had helped set up 1MDB and played a key role in its decisions.

Yeo is on trial on charges of obstructing Singapore’s investigation into the 1MDB scandal. Other charges will be tried later.

Apart from Singapore, the scandal is also being investigated by Switzerland — because Swiss banks were allegedly used to transfer illicit funds — and the United States, where assets using alleged laundered 1MDB money were purchased.

Swampillai said Yeo once sent him a picture from a private plane showing Low.

He said Yeo and Low also travelled to Las Vegas last year to watch the fight between undefeated US boxing champion Floyd Mayweather and the Philippines’ Manny Pacquiao.

Singapore prosecutors said Monday that Yeo, the first person to be tried anywhere in relation to the 1MDB case, “played a central role in many activities connected with the money-laundering case”.

They said the case involved the cross-border transfer of “staggering” amounts of money.

…more
Banker in 1MDB case worked with Jho Low, says witness
AFP
November 1, 2016 – FMT


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REJECT such a leader!
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All that is necessary
for the triumph of evil
is for good men
to do nothing.

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there is TYRANNY;
when the government
fears the people,
there is LIBERTY.

- Thomas Jefferson
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