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Bloomberg
Singapore banned two more financial professionals over breaches related to 1Malaysia Development Bhd., taking to eight the number of prohibitions handed down by the city in connection with the troubled state investment fund.
The Monetary Authority of Singapore issued a lifetime prohibition order on former private banker Yeo Jiawei and placed a three-year ban on Kevin Scully, the former chief executive officer of NRA Capital Pte, it said. Singapore is taking steps to safeguard its reputation in the aftermath of the largest money laundering probe in its history. The city shut the local units of two Swiss banks, seized hundreds of millions in assets and convicted several people over offenses connected to 1MDB, which has consistently denied wrongdoing.