KUALA LUMPUR: A former Singaporean banker told the High Court here that BSI Bank was under intense pressure by 1Malaysia Development Bhd Global Investment Ltd (1MDB GIL) to hasten the process of investing US$2.72bil into a targeted company account.
Former BSI Bank Wealth Management Services head Kevin Micheal Swampillai, 59, testified that the pressure came from fugitive businessman Low Taek Jho, or Jho Low.
The witness was testifying during cross-examination by defence lawyer Tan Sri Muhammad Shafee Abdullah at the graft trial of Datuk Seri Najib Razak involving RM2.28bil of funds from 1MDB here on Tuesday . “I know that sounds very murky but that is what was conveyed. That is what came out at the onset," Swampillai said.The witness also said the monies in 1MDB GIL and other 1MDB-related client accounts did not remain in their accounts for too long as there was always a great haste shown by them to invest the money in fiduciary funds as quickly as possible.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bank BSI tidak fail laporan transaksi mencurigakan dana 1MDBUrusniaga 1MDB serta syarikat-syarikat yang berkaitan dengannya menimbulkan tanda-tanda amaran (red flag) kerana ia melibatkan individu yang terdedah secara politik di Malaysia.
Read more »
1MDB trial: BSI Bank never lodged suspicious report despite obvious red flags, says witnessKUALA LUMPUR: Former Singaporean banker told the High Court here that there were obvious red flags in relation to 1Malaysia Development Berhad (1MDB) transactions in BSI Bank, but the bank has never filed any suspicious transaction report (STR) to the Monetary Authority of Singapore (MAS).
Read more »
Bank BSI tidak fail laporan transaksi mencurigakan dana 1MDBKebiasaannya kerajaan terlibat memilih bank komersial atau bank pelaburan bagi urus niaga fidusiari, bukan bank yang lebih kecil secara relatif.
Read more »
1MDB: Wujud tanda amaran, namun bank tak pernah lapor transaksi mencurigakan, kata saksi | The Malaysian Insight1MDB: Wujud tanda amaran, namun bank tak pernah lapor transaksi mencurigakan, kata saksi
Read more »
Risiko kestabilan kewangan kekal sederhana - FitchBank-bank Malaysia secara agregat berkemungkinan kekal pada kedudukan yang stabil walaupun terdapat potensi limpahan negatif.
Read more »
Najib ‘concerned’ after media broke story about Brazen Sky, ex-banker tells courtKevin Swampillai says 1MDB’s act of opening accounts with BSI in 2011 was seen as a ‘red flag’.
Read more »