MUSIC PLAYER AT BOTTOM

OUR MUSIC PLAYER IS AT THE BOTTOM IN PINK. TO VIEW THE SONG LIST - CLICK ON MENU ICON AT THE BOTTOM RIGHT ... THE MUSIC PLAYER IS NOT AVAILABLE ON MOBILE PHONE OR TABLET

TO GET UPDATES IN YOUR E-MAIL PLEASE SUBMIT YOUR EMAIL ADDRESS

Thursday, 17 November 2016

Former BSI banker Yeo Jiawei was so close to Malaysian tycoon Jho Low,that he slept at his apartment, flew on his private jet and even wore his clothes


Ex-BSI banker trial: Yeo slept at Jho Low's house, wore his clothes, says prosecutor



Yeo claimed that he had never been employed by Low nor had he ever "received a single cent" from the high-living financier. ST




SINGAPORE: Former BSI banker Yeo Jiawei was so close to controversial Malaysian tycoon Jho Low, or Low Taek Jho, that he slept at his apartment, flew on his private jet and even wore his clothes, a court heard on Wednesday.

The claims arose as Yeo's previous testimony, including claims over referral fees he reaped and his relationship with Low, came under intense scrutiny by prosecutors.

Yeo, who faces four counts of witness tampering, has repeatedly downplayed his close ties to Low, who is under investigation here and elsewhere over money-laundering claims linked to scandal-hit Malaysian state fund 1Malaysia Development Berhad (1MDB).

Yeo claimed that he had never been employed by Low nor had he ever "received a single cent" from the high-living financier.



But Deputy Public Prosecutor Tan Kiat Pheng, in cross-examining Yeo, pointed to inconsistencies in his testimony about his first meeting with Low.

He also accused Yeo of lying about what he did in Hong Kong before returning to Singapore.

Yeo had testified that he spent several hours at the Hong Kong airport.

But DPP Tan said: "You were actually spending that time in Jho Low's house. You slept at his house. And because you didn't have any clothing with you, you even wore Jho Low's clothing. You lied because you're trying to downplay your relationship with Jho Low."

Yeo replied: "I disagree because the prosecution was going to 'up-play' it. Jho Low is just a client of mine."

The prosecution also sought to discredit Yeo's testimony on why the referral fees were paid.

The court was told the true purpose of incorporating two firms that Yeo and his former boss, Kevin Swampillai, beneficially owned was to hide the fact that they were receiving "secret profits".

Prosecutors said Yeo had arranged for these two firms to receive a significant portion of referral fees or "secret profits" for their own benefit.

Under the arrangement, a portion of the management fees paid by 1MDB unit Brazen Sky to fund manager Bridge Partners Investment Management (Cayman) went to a firm called Bridge Global Managers before passing to the companies owned by Yeo and Swampillai.

Tan asked Yeo how these payments could be justified: "I put to you that there was no further necessity to distribute the money downstream" to the firms owned by Yeo and Swampillai.

Yeo disagreed, saying it was Swampillai's plan to eventually have Bridge Global Managers take over Bridge Partners using funds held by the two firms.

The prosecution also pointed to inconsistencies in Yeo's testimony regarding the Commercial Affairs Department (CAD).

Yeo had testified that he could not recall if the CAD had warned him not to meet with witnesses. But in a statement to the CAD on April 27 this year, Yeo wrote that he had in fact been been warned not to do just that.

Yeo said that he was "afraid he would get charged" if he admitted to the CAD that he had met Swampillai and Samuel Goh on March 27 after they had been questioned by the CAD.

Yeo was accused of telling Goh on March 27 to lie to the police and claim the funds he transferred to the firms owned by Yeo and Swampillai were his own money.DPP Tan maintained that Yeo withheld information about the March 27 meeting from the CAD because he was "afraid that his and Swampillai's illicit transactions... would be discovered". - The Straits Times/Asia News Network

No comments:

Post a Comment

PLEASE LEAVE A COMMENT TO WIN A PRIZE EVERY FORTNIGHT

Related Posts Plugin for WordPress, Blogger...

TWITTER POSTS

Popular Posts - Last 7 days

Popular Posts - Last 30 days

Popular Posts - All Time

STORY SOURCE

The best stories & news from The Star Online, NST, Malaysian Digest, Asiaone, Beautifulnara, Rotikaya, Ohbulan, TheMalayMailOnline, Siakap Keli, Malaysian Insider, Free Malaysia Today and Yahoo are shared in this BLOG bestfbkl.blogspot.com

This Blog claims no credit for any images or stories on this site unless otherwise posted.

Post and Images on this blog are copyright to its respectful owners.

If there is a post or image appearing on this blog that belongs to you and do not wish for it to appear on this site, please email with a link to the said image, it will be promptly removed.

Google+ Followers