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The
case is related to illicit money transfers linked to 1Malaysia
Development Berhad (1MDB) [TERRN.UL], which is being
investigated by at least six jurisdictions.
Judge Chan Seng Onn said prosecution and defense should try to
expedite the trial for the two offences of perverting the course
of justice.
The prosecution had challenged the S$600,000 ($436,681) bail
granted by a district judge for Yeo Jiawei, a 33-year-old
Singaporean who is facing charges including forgery and money
laundering. He has already served more than 40 days in remand.
It was not immediately clear when Yeo will be tried for the
remaining charges.
Yeo, who was present in the court, did not make any remarks.
Prosecutor Kwek Mean Luck presented fresh evidence from the
white-collar crime unit of the police, saying it had good reason
to believe that Yeo had earned secret profits of around $18
million through illicit transactions.
The prosecutor had earlier accused Yeo of cheating BSI, by
concealing from his former employer that he would be receiving
$1.6 million a year from Brazen Sky Ltd, a financial vehicle
owned by 1MDB which was holding fund units at an account with
BSI Singapore.
In an unprecedented move this week, Singapore's central bank
ordered the closure of BSI's operations in the city-state, while
Switzerland began criminal proceedings against the private bank,
in the biggest international crackdown on financial entities
dealing with 1MDB.
Yeo was one of five former employees of BSI whom Singapore's
central bank has referred to the public prosecutor for possible
criminal charges.
(Reporting by A. Ananthalakshmi; Editing by Muralikumar
Anantharaman)
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