This publication carries latest developments around embattled Malaysian state fund 1MDB.

Three fresh charges have been imposed on a former private banker at BSI who has been described as playing a leading role in the money laundering scandal surrounding Malaysia’s state fund 1Malaysia Development Berhad, according to the Straits Times (of Singapore).

The publication said that Yeo Jiawei, 33, was charged with cheating the bank in 2013 by dishonest concealmeant, transferring funds which represented his benefit from cheating and perverting the course of justice, bringing the total charges against him to six.

Prosecutors had already accused him of attempting to pervert the course of justice, cheating his former employer and money laundering in previous charges, the first of which was brought on April 16.
In April, the Attorney-General’s Chambers of Singapore confirmed the charges.

A number of persons, including Malaysia’s prime minister, Najib Razak, are alleged to have siphoned money for personal use. Amid the scandal – 1MDB and the premier deny wrongdoing – authorities in Singapore, Luxembourg and Switzerland have initiated investigations. Swiss authorities have, for example, frozen some bank accounts connected with the matter.

(To see the previous story about the former BSI banker, click here.)

BSI is in the process of being acquired by EFG International, another Switzerland-headquartered bank, from its parent, Brazil-headquartered BTG Pactual.