SHARE
News in Brief - Caproasia Online

Are you looking for your next career? Banks, Private Banks, IFAs, Fund Management Co.? Search for wealth & investment Jobs here or join thousands of leading financial professionals to receive the latest news and updates here

Fifth Person Involved in 1MDB-Related Case Gets Convicted in Singapore

Kelvin Ang, a former broker with Kim Eng Securities till 2015 was fined US$6,477 after he admitted that he made a corrupt payment to an analyst in a Singapore case related to 1MDB investigations.

“Ang made $235,000 in referral fees.”

He was charged a year ago for corruption of S$3,000 given to a research analyst to speed up the preparation of a favourable valuation report. The payment was given to expedite a report for a $2.4 billion valuation for PetroSaudi Oil Services Ltd. assets.  Ang made $235,000 in referral fees in a deal involving the PetroSaudi assets.

News Source: Bloomberg

 



Caproasia Online is an E-Magazine for Wealth Managers, Private Bankers & Investment Professionals.  View latest jobs in Banks, Private Banks, IFAs, Fund Management at the Jobs Center or join thousands of leading financial professionals to receive the latest news and updates here

For content usage and citations, kindly provide a backlink or whenever possible – Source: Caproasia Online.