Flash: First legal case involving Singapore's probe into 1MDB
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Anita Gabriel
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IN the first legal case involving a massive probe into Malaysia's 1Malaysia Development Berhad, a criminal motion will be heard on Friday at the Singapore high court involving a senior private banker with BSI Singapore.
The Business Times understands that Mr Yak Yew Chee, who was the relationship manager of Malaysian tycoon Low Taek Jho or better known as Jho Low and a few entities linked to 1MDB, is applying for the release of some S$10 million in several of his bank accounts that were frozen as a result of Singapore authorities' probe into 1MDB.
It is understood that the funds were frozen in September 2015.
Mr Yak was also the relationship manager for entities linked to 1MDB namely 1MDB Global Investments Ltd, Aabar Investment PJS Limited and SRC International Sdn Bhd.
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