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Another bank in S'pore linked to 1MDB controversy

US$20m wired in 2009 from an account with RBS Coutts' Singapore branch to Saudi businessman Tarek Obaid

Anita Gabriel

Published Thu, Apr 9, 2015 · 09:50 PM

Singapore

SINGAPORE-based banks' involvement in the 1Malaysia Development Bhd (1MDB) controversy may not just be limited to Swiss wealth bank BSI Singapore, but could also involve British bank RBS Coutts.

Documents obtained by The Business Times reveal that US$20 million had been wired, in late September 2009, from an account with RBS Coutts' Singapore branch under "Acme Time Limited" to Saudi businessman Tarek Obaid.

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