Some of the biggest local and international banks in Singapore are becoming embroiled in one of the country's largest money laundering cases.
DBS Group Holdings, Singapore's largest lender, and Bank of Singapore, the private banking arm of OCBC Bank, are creditors to investment companies linked to individuals arrested and charged earlier in August in a major money laundering scandal involving over $1 billion of assets, according to business filings seen by Bloomberg News.
One of the accused also tried to cheat Standard Chartered Bank with fake documents, according to a court hearing in Singapore on Wednesday.
The banks join a list of financial institutions including Malaysia's CIMB Bank, Citigroup's local subsidiary and Deutsche Bank - to be linked to the suspects in the alleged money laundering ring.
Prosecutors have said that they are seeking documents from at least 10 financial institutions in relation to the case, although they were not named.
この記事は The Straits Times の August 31, 2023 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です ? サインイン
この記事は The Straits Times の August 31, 2023 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
How do you love a city? Nghi Vo's The City In Glass counts the ways
In a lecture, Italian writer Italo Calvino called his 1972 book Invisible Cities \"something like a last love poem addressed to the city\", \"a dream born out of the heart of the unlivable cities we know\".
Gen Z poet turns to World War II for inspiration in debut collection
Chim Sher Ting's first full-fledged collection, Burn After Dawn, contains 35 poems about the Japanese Occupation
Rare story of sexual freedom in revolutionary times
The ideals of young Syrians fighting for freedom during the Syrian revolution in 2011 are narrated in this rare novel in English that deals with the thwarted aspirations of the Arab Spring.
'I want to be a tree when I die'
Let's Talk About Death is a five-episode docuseries that follows millennials and their loved ones as they navigate end-of-life planning, and it aims to start honest conversations about death and dying well.
He started meal-prep business with dad to break Out Of poverty
Cheekies, which started off selling frozen marinated chicken breasts from a one-room flat, now operates out of a kitchen in Changi
Cat and art therapy for stroke patients
Over four weeks in September, Madam Mahani Abdul Shariff, 60, dabbled in art jamming and interacted with cats as part of her stroke rehabilitation.
Please help, I'm going to die'
In the lead-up to World Stroke Day on Oct 29, stroke survivors talk about their condition and recovery journey
GRIT INSPIRATION
Seen as failures or troublemakers in school, these individuals persevered and found success in different ways and in their own time
'KEEPING THE SCORE TIGHT'
Singapore fend off Malaysia but need consistency in final against Sri Lanka
Inspiring athletes is about the little things coaches say
Life is not a Hollywood movie and sport is not an Al Pacino speech. In Any Given Sunday, the kinetic Oliver Stone film on an American gridiron team, Pacino plays an ageing coach who delivers a four-minute, pre-game motivational speech.