Prosecutors said Yak, who was also a private banker to Low, forged reference letters to Swiss banks and funds, and failed to report suspicious money transfers involving accounts belonging to his client. Najib, Low and 1MDB have all strongly denied any wrongdoing. Half of the assets were linked to Low. Another private banker, Singaporean Yeo Jiawei, 33, is also on trial in the city-state on charges of obstructing the investigation into the financial scandal. The scandal is also being investigated by Switzerland -- because Swiss banks were allegedly used to transfer illicit funds -- and the United States, where assets were purchased using allegedly laundered 1MDB money.

Source: The Nation Bangkok November 11, 2016 09:59 UTC