SINGAPORE: The Supreme Court will hear its first legal case arising from the Singapore Government’s probe into bank accounts possibly linked to Malaysian state fund 1Malaysia Development Berhad (1MDB) on Friday morning (Feb 5).
Singapore authorities announced on Monday the seizure of a “large number” of bank accounts in relation to the debt-ridden 1MDB. Both the Commercial Affairs Department and the Monetary Authority of Singapore said they have been actively investigating possible money-laundering and other offences carried out in Singapore since mid-2015.
Banker Yak Yew Chee, the applicant of the criminal motion, is understood to be seeking access to his bank accounts which were frozen during said investigations. He is said to be employed by wealthy Malaysian financier Low Taek Jho - also known as Jho Low - who has reportedly been involved in personal transactions with 1MDB. Mr Yak will be represented by Mr Roderick Edward Martin from Martin & Partners.
Singapore police declined to reveal if Mr Yak is in remand.