Spokespeople for Julius Baer and Credit Suisse declined to comment, while RHB and UOB Kay Hian didn’t immediately respond to requests for comment. The judge denied a request from Vang’s lawyer to have him released on bail. At Wednesday’s court hearing, all 10 people so far charged in this case had their remand extended.
Singapore police seized $125 million from a suspected money launderer’s accounts with Bank Julius Baer and Credit Suisse AG’s local unit as a billion-dollar scandal continues to unfold.
Authorities took hold of $92 million held by Turkish national Vang Shuiming in Credit Suisse Singapore, according to an affidavit by the police and presented in the Singapore High Court on Tuesday. Another $33 million was seized from his Julius Baer account. The amounts were much larger than the $2.6 million frozen at RHB Bank Bhd. and $600,000 at UOB Kay Hian Pte.
