SINGAPORE – Former private banker Yeo Jiawei, who has been linked to the global investigation into Malaysia’s state investment fund 1Malaysia Development Bhd (1MDB), is facing an additional charge of forgery — a charge Singapore prosecutors described as opening up “an entirely new front” in the probe by the Republic’s authorities. Yeo, 30, now faces a total of seven charges. 

While the previous six charges made no mention of 1MDB or any related entities or individuals, the new charge alleges that Yeo had fraudulently signed a reference letter to Citigroup’s head of anti-money laundering to facilitate a transfer of US$11.95 million (S$16.37 million). The transfer was from SRC International (Malaysia) Limited to a firm called Affinity Equity International Partners Limited. 

The letter was signed on Dec 23, 2013. SRC International, a subsidiary owned by Malaysia’s Ministry of Finance, had made headlines earlier this year for having transferred millions of ringgit into the personal accounts of Malaysian Prime Minister Najib Razak.

Seeking for Yeo’s remand period to be extended on behalf of the prosecution, Second Solicitor-General Kwek Mean Luck said on Thursday (May 12): “The new charge is significant as it opens up an entirely new front in the investigations. It reveals that the investigations have reached a critical stage, with a higher level of urgency and sensitivity.”

He added: “They are moving closer to the centre of a complex web of cross-jurisdictional criminal transactions, moving closer to the origins of the money flows and the principals that the accused has been interacting with.”

Yeo, a former wealth planner at Swiss private bank BSI, was first hauled to court on April 16 over accusations that he had received ill-gotten funds. On April 28, he was accused of two more charges that include attempting to pervert the course of justice and cheating his former employer. 

One week ago, three more charges were brought against him for allegedly cheating BSI in 2013 by dishonest concealment, transferring funds which represented his benefit from cheating and perverting the course of justice.

Yeo was not granted access to his family members other than his brother, as such interactions may prejudice investigations, said Mr Kwek. Yeo’s wife and parents are also being investigated for suspected money laundering, he revealed.

District judge Christopher Goh granted the prosecution’s request for a further remand of one week. Yeo’s case will be mentioned again on May 19. The judge also allowed Yeo supervised access to his three-year-old daughter, whom he last saw on April 16.

Kelvin Ang, a second Singaporean charged in relation to the probe, was released on a S$100,000 bail on Monday after the prosecution determined that he no longer needs to be in custody to assist with investigations.