![]() ![]() Singapore has been moving to try to curb illicit flows as the country gains in stature as a key financial and wealth hub. These blow-ups have led to financiers being banned, people being jailed or banks getting slapped with fines for inadequate controls. The banks’ facilities are secured against “all monies” at the companies, according to the filings, which did not specify the size of the exposures.īefore this case, Singapore was rocked by scandals involving huge money flows in Malaysia’s state fund 1Malaysia Development Berhad and German payments company Wirecard. ![]() OCBC declined to comment, while StanChart, which Su Baolin allegedly tried to cheat, did not immediately respond to a request for comment.īoth the investment companies linked to DBS and OCBC have listed office addresses in the business district, while the two accused directors have upscale residential addresses.
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