By Low De Wei & Chanyaporn Chanjaroen SINGAPORE charged two former bank relationship managers who it accused of being involved in the country’s biggest money-laundering case, marking its first criminal actions against finance professionals in the S$3 billion ($2.3 billion) scandal.
SINGAPORE charged two former bank relationship managers who it accused of being involved in the country’s biggest money-laundering case, marking its first criminal actions against finance professionals in the S$3 billion scandal.
The charges were read out to both men in Mandarin. Liu, who is also a Chinese citizen, holds Singapore permanent residency, according to his charge sheet. They declined to comment after the hearing. The MAS has been inspecting multiple banks. The lenders with the most dealing with the criminals—through deposit accounts, loans and other financial services—could face fines and other punitive measures, people familiar with the matter said previously.
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