Chitchat Awesome Ex-BSI banker on trial for amassing S$23.9M in 15 months

http://www.straitstimes.com/busines...sed-s239m-in-just-15-months-after-leaving-bsi

[h=1]Ex-BSI banker trial: Yeo Jiawei amassed S$23.9m in just 15 months after leaving BSI, say prosecutors[/h] Among Yeo's assets were three Singapore properties worth a combined S$6.15 million and two properties in Australia worth S$6.3 million.PHOTO: COURT DOCUMENT


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3 hours ago
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Grace Leong



SINGAPORE - Former BSI banker Yeo Jiawei's net worth escalated from S$2 million to nearly S$26 million in just 15 months after he left the Swiss private bank in Singapore, the court heard on Tuesday (Nov 22).
This wealth includes funds earned through "illicit means" and the "taking of secret profits" in transactions linked to Malaysian state fund 1Malaysia Development Berhad (1MDB), said prosecutors .
Among Yeo's assets were three Singapore properties worth a combined S$6.15 million and two properties in Australia worth A$6 million (S$6.3 million), prosecutors said on day 12 of his trial on four charges of obstructing justice by tampering with witnesses.
"I put it to you that it is quite unbelievable to amass so much - S$23.9 million- in just one year and three months, by just acting as an 'introducer, intermediary, independent consultant or relationship manager'," Deputy Public Prosecutor Tan Kiat Pheng said in his cross examination of Yeo.
PHOTO: FROM EVIDENCE GIVEN IN COURT But Yeo, 33, disagreed. "This can be proven by facts," he argued. "CAD forgot these are referral fees earned from one of the biggest sovereign wealth funds in the world."
He pointed to former BSI banker Yak Yew Chee earning S$27 million from salary and bonuses from BSI from 2011 to 2015.
But DPP Tan countered: "Yak earned S$27 million in four years. You earned S$23.9 million in one year and three months."
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Yak was sentenced last week to 18 weeks' jail and fined S$24,000 for forgery and for failing to disclose information on suspicious transactions - the first person to be sentenced here in the 1MDB-linked probe.
Yak was the relationship manager of Malaysian tycoon Low Taek Jho, also known as Jho Low, suspected of playing a key role in the siphoning of billions of dollars from 1MDB.
Yeo on Tuesday defended his earnings as "referral fees that were directly earned". He said that "Yak took commissions as a private banker. There is a big difference."
DPP Tan accused Yeo of "playing poker" with the court when he did not admit to using secondary phone lines, meeting his former boss Kevin Swampillai at Springleaf Park on March 20, staying at Jho Low's apartment in Hong Kong in order to downplay his relationship with Low.
"To prevent the truth about your illicit wealth and dealings from coming out in court, and the CAD investigations, you obstructed the course of justice," DPP Tan said.
But Yeo said: "Nothing I have done is illegal."

Trial? More like big wayang put all the blame on this sinkie gongkia 'banker' while MAS and his management act blur blur .

Why penalized him when he has the craft that Trump possesses? We should celebrate his success ...that sinkees are capable as Trump.
Thankfully, the PAP is just doing wayang on him ...sentence him to 18 weeks jail and fine of $24k for forgery and non-disclosure of suspicious funds.

The prosecutor is stupid ...he is so ignorant of high finance. Yeo's angmo counterparts make even more in a year! And prosecutor argues that just because no one has done that in sinkapore, then Yeo is incapable even when Yeo cited someone who earned millions in four years. Prosecutor thinks sinkees are all stupid, is it?

"I put it to you that it is quite unbelievable to amass so much - S$23.9 million- in just one year and three months, by just acting as an 'introducer, intermediary, independent consultant or relationship manager'," Deputy Public Prosecutor Tan Kiat Pheng said in his cross examination of Yeo.
But Yeo, 33, disagreed. "This can be proven by facts," he argued. "CAD forgot these are referral fees earned from one of the biggest sovereign wealth funds in the world."
He pointed to former BSI banker Yak Yew Chee earning S$27 million from salary and bonuses from BSI from 2011 to 2015.
But DPP Tan countered: "Yak earned S$27 million in four years. You earned S$23.9 million in one year and three months."

Yeo Jiawei is my hero.

I don't mind going to jail for 18 weeks and after coming out of it, I can enjoy my S$23.9 million.

It proves Sinkies don't have to be PAP cronies, elites and porlumpars to earn that amount in 15 months!

These sg prosecutors don't have enough evidence,amateurs.d not they know rule number one of prosecuting?from my years of watching law and order and sammyboy lawyers,never ever prosecute unless u are 100% sure of a conviction that the defendant cannot plea bargain out of.

frenchbriefs said:

These sg prosecutors don't have enough evidence,amateurs.d not they know rule number one of prosecuting?from my years of watching law and order and sammyboy lawyers,never ever prosecute unless u are 100% sure of a conviction that the defendant cannot plea bargain out of.

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If the PAP wants him, any law can be used and the judge will okay it. This trial is wayang ...Yeo is asked to be scapegoat for show. LHL and Najib are in bed together ...LHL agrees to let Najib use sinkapore to launder his dirty money in return for resolving the thorny bilateral issues.