SINGAPORE - The first name has emerged in an ongoing probe by Singapore authorities into bank accounts related to alleged financial mismanagement at Malaysian state investor 1Malaysia Development Berhad (1MDB).
Sources say he is Yak Yew Chee, a senior private banker with BSI Singapore, a Swiss bank. A check with the High Court shows that a criminal motion will be heard this Friday (Feb 5) at 10am.
He was the relationship manager for 1MDB Global Investments Ltd, Aabar Investment PJS Limited and SRC International Sdn Bhd, as well as Malaysian businessman Low Taek Jho, also known as Jho Low.
He is applying for the release of some of his bank accounts for the payment of taxes, legal fees and basic expenses, sources say.
In September last year, several of his bank accounts, amounting to about $10 million, were frozen as part of investigations surrounding 1MDB Global.
On Monday (Feb 1), the authorities here said they had seized a "large number" of bank accounts over possible money-laundering and other offences linked to alleged financial mismanagement at 1MDB.
The Commercial Affairs Department and the Monetary Authority of Singapore said they had been investigating possible offences since the middle of last year.