Europe

Singapore ex-banker convicted in 1MDB Malaysia fund case

A court in Singapore has found a former private banker guilty of trying to obstruct investigations linked to the indebted Malaysian State Fund 1MDB.

The State Court on Wednesday found Yeo Jiawei, a former wealth planner at Swiss private bank BSI, guilty of four charges relating to obstructing, preventing or perverting the course of justice.

Yeo denied involvement in the case.

Singapore ordered BSI to stop operating in the city in May due to violations of anti-money laundering requirements, among other problems.

Investigators in Singapore, Switzerland, Hong Kong and the U.S. have been probing allegations that people close to Malaysian Prime Minister Najib Razak stole over $1 billion from 1MDB, or 1Malaysia Development Bhd.

In February, Singapore authorities said they had seized a large number of bank accounts in probe.