Last month, I laughed at the verdict given
to Yak Yew Chee. The private banker was jailed18 weeks on fraud charges
relating to Malaysia's 1MDB financial scandal. He was also fined $24,000. His
crime; being paid $7.5 million for helping with a transfer of $110 million.
Even writing this, I’m having an urge to
laugh. A fine of $24,000 for being paid $7.5 million? 18 weeks jail for a fraud
that was $110 million? That’s laughable right? Well, it seems I had laughed too
early because the sentence to the second person convicted in the mess that is
1MDB is even funnier.
Yvonne Seah, a former director at the
Singapore branch of Swiss bank BSI, helped forge documents and failed to report
suspicious money transfers from accounts allegedly linked to Malaysian financier
Low Taek Jho. She pleaded guilty. Her sentence was a fortnight in jail and a
fine of $10,000.
Seriously, I don’t know why the Singapore
courts bother. Billions were misappropriated from the Malaysian state fund and
these guys helped to the tune of $110 million. The sentences were weeks and
their fines were like less than 1% of the money they took.
Now that’s a laugh. Like I said earlier…why
bother?
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