Singapore: Singapore has charged two former bank relationship managers in the city’s biggest money-laundering case.
Wang Qiming, an ex-employee of Citibank Singapore Ltd, was charged with 10 counts including forging documents for the purpose of cheating the bank, according to charge sheets read out in a local state court yesterday.
Liu Kai, formerly with Bank Julius Baer & Co, was accused of aiding one of the now-convicted money launderers in submitting a forged Chinese tax document to open a bank account in Switzerland.
Both men, who are Chinese nationals, declined to comment after the hearing.
The scandal had sent shock waves across the Asian wealth hub after authorities last year seized cash, properties, cryptocurrencies and other assets totalling S$3bil or about US$2.3bil.
A total of 10 people of Chinese origin were sent to jail this year for laundering illicit funds from illegal overseas gambling operations and other offences, while more remain at large. — Bloomberg
