OCBC closes restaurant account linked to alleged Singaporean scammer

Singaporean businessman Ng Yu Zhi. - The Straits Times/ANN

SINGAPORE, Aug 1 (Bloomberg): A restaurant linked to the Singapore businessman at the heart of an allegedUS $1 billion scam has closed down after Oversea-Chinese Banking Corp. terminated its bank account, the Straits Times reported Sunday, citing a director of the restaurant.

OCBC, Singapore’s second-largest bank, closed the Cicada restaurant’s account, which left it unable to pay employees, the Straits Times cited Raymond Lim, a director of Cicada YJL, as saying.