Former BSI banker Yeo Jiawei has been sentenced to a jail
term of 30 months - the heaviest sentence so far for attempting to pervert the
course of justice - in connection with Singapore's largest money-laundering
probe linked to the massive 1Malaysia Development Bhd (1MDB) scandal.
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Ex-BSI banker slapped with 30-month jail term
Claire Huang
23 December 2016
Former BSI banker Yeo Jiawei has been sentenced to a jail term of 30 months - the heaviest sentence so far for attempting to pervert the course of justice - in connection with Singapore's largest money-laundering probe linked to the massive 1Malaysia Development Bhd (1MDB) scandal.
The sentence meted out on Thursday was significantly more than the four months' jail sought by the defence and slightly under the prosecution's call for a deterrent penalty of three years.
Yeo's sentence would be backdated to April 16, when he was remanded.
The verdict follows the conviction of the 34-year-old on Wednesday by the Singapore court on all four counts of attempting to obstruct justice by urging witnesses to lie to the police and instructing them to destroy evidence while out on bail.
Asked if Yeo - an associate of Malaysian financier Low Taek Jho - would appeal against the conviction and sentence, his lawyer Philip Fong told the media: "My client is seriously considering an appeal and he has two weeks to make up his mind."
In the meantime, his client wants to spend time with his family and asks for some privacy, Mr Fong said.
In his sentencing, District Judge Ng Peng Hong said while out on bail, Yeo had tried to frustrate the Commercial Affairs Department's (CAD's) investigations. Yeo had been on bail after being arrested on March 17 in connection to the 1MDB probe.
The current offences are linked to separate charges of money laundering and cheating that Yeo faces, the judge said, adding that Yeo had also tried to cover up his illicit gains. During the 12-day trial, the court had heard that Yeo had amassed S$26 million from various sources, including illicit schemes to defraud BSI while he was an employee.
Judge Ng also said there was planning and pre-meditation on Yeo's part as the accused had "used Telegram and secondary phone line to facilitate the offences and to avoid detection". Telegram is an instant messaging app whose chats are private among their participants.
Prosecutor Tan Kiat Pheng also said a deterrent sentence was "reasonable and warranted" due to several aggravating factors. He made the point that "the investigations that the accused intended to stymie are unparalleled both in terms of scale and quantum involved".
He added that the wider probe by the CAD is "the most complex, sophisticated and largest money laundering case that it has ever been involved in, concerning hundreds of thousands of transactions, totalling up to billions in US dollars".
Another point Mr Tan highlighted was the immense potential harm triggered by Yeo's conduct, both in terms of wastage of investigative resources and confidence in the administration of justice.
But Mr Fong argued in mitigation that while the defence understood where the prosecution was coming from, the fact of the matter was that Yeo has not been convicted of any of the money laundering or cheating charges he separately faces.
The charges relating to money laundering and cheating, which have not been proven, might prejudice Yeo's upcoming trial, said Mr Fong, who added that to place weight on them would be "uncalled for".
The worst is not over yet for Yeo, who faces a separate trial next year and has to defend himself against allegations of money laundering, forgery and cheating. The trial is expected to begin in April at the earliest.
Referring to Mr Tan's point on the immense potential harm, Mr Fong pointed out that actual harm has not been proven.
He added that his client had never denied association with Mr Low, better known as Jho Low, or any other party for that matter.
Also, this was not a case where Yeo had threatened anyone, said Mr Fong, who stressed that there was no premeditation because if his client did, he would have deleted all the documents in his iPad and other devices.
Yeo is the third ex-BSI banker to be found guilty in Singapore's 1MDB-linked investigations.
In mid-November, Yak Yew Chee, the former relationship manager of Mr Low and former managing director of Swiss bank BSI, was handed an 18-week jail term and fined for forgery and failing to disclose suspicious transactions linked to the 1MDB probe. Another banker, Yvonne Seah Yew Foong, was sentenced to two weeks' jail and fined S$10,000 on Dec 16 for similar offences.
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