Ex-BSI Banker Yak Found Guilty in Singapore 1MDB-Linked Case
- Yak gets sentence of 18 weeks’ jail and S$24,000 fine
- Banker is first person found guilty in Singapore probe
Yak Yew Chee in Singapore in October.
Photographer: Roslan Rahman/AFP via Getty ImagesThis article is for subscribers only.
Yak Yew Chee, a former BSI SA private banker, became the first person to be found guilty in a Singapore case linked to 1Malaysia Development Bhd. He also became the first banker to be convicted in the global corruption and money laundering probes surrounding the Malaysian investment fund.
Yak pleaded guilty in a Singapore court Friday and the judge convicted him of four charges, including forging documents and failing to disclose suspicious transactions allegedly related to Malaysian financier Low Taek Jho. The former senior banker at BSI had faced seven charges, and prosecutors said the other three charges would be taken into consideration for sentencing.