First 1MDB Court Proceedings Set

Kelvin Ang Wee Keng, the second person charged in connection with Singapore’s investigation of 1MDB, is set to have his next pre-trial conference on September 22, according to business publication «The Edge».

His trial date has not been fixed yet.

Ang and former BSI private banker Yeo Jiawei face several charges. A number of other individuals is still being questioned or investigated.

Favorable Valuation Produced

Ang, who was with Maybank Kim Eng, is charged with paying former research analyst Lee Chee Waiy $3,000 to speed up a favorable valuation report on a 1MDB asset held in the Cayman Islands and managed by Bridge Capital Partners.

In the course of the investigations, bank accounts belonging to various individuals have been seized and dealings in properties belonging to some of these individuals have been curtailed. The assets amount in total to S$240 million.

Kelvin Ang is currently out on bail of $100,000.