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Wednesday, 24 May 2017

Singapore Convicts Fifth Person Involved in 1MDB-Related Cases - Bloomberg

Singapore Convicts Fifth Person Involved in 1MDB-Related Cases - Bloomberg:

"Kelvin Ang Wee Keng was fined S$9,000 ($6,477) after he admitted that he made a corrupt payment to an analyst in a Singapore case related to 1Malaysia Development Bhd investigations. Ang, 35, was a broker with Kim Eng Securities Pte until 2015 and made about S$100,000 annually in commissions, prosecutor Vincent Ong said in a Singapore State Court on Wednesday. He was charged a year ago for what authorities said was corruptly giving S$3,000 to a research analyst to speed up the preparation of a favorable valuation report. While the charge sheet at that time didn’t give further details, the city’s Attorney-General’s Chambers said he was “implicated in a number of illicit transactions” with former BSI SA wealth planner Yeo Jiawei. Yeo is appealing his conviction and 30-month jail term for obstructing justice in another case relating to the 1MDB probe. Ang, who is now unemployed, was Yeo’s friend, Ong said in court."

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