Singapore authorities are banning the former director of Goldman Sachs in Singapore for ten years for his role in the 1MDB scandal.
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Prosecutors in the Singapore trial of a former BSI banker said this week the defendant and other former employees of the Swiss bank helped launder up to $2.3 billion looted from the Malaysia sovereign wealth fund 1MDB.
Singapore's bank regulator Tuesday shut down a second bank for "serious failures in anti-money laundering controls and improper conduct" linked to Malaysia's 1MDB fund.
Singapore said Thursday it has seized property and bank accounts linked to money allegedly diverted from Malaysia's sovereign wealth fund, 1Malaysia Development Berhad.