Singapore’s Monetary Authority (MAS) has issued prohibition orders against two former bank relationship managers convicted in a billion-dollar money laundering case.
Wang Qiming, 26, a former Citibank employee, received a 16-year ban after being convicted of four charges including forgery, money laundering, and obstructing justice. He was found holding S$481,678 in laundered funds tied to convict Su Baolin.
Liu Kai, 36, formerly with Julius Baer, was banned for seven years after pleading guilty to using a forged document to defraud the bank. He was sentenced to four months in jail.
Both individuals are barred from performing any regulated financial activities, managing financial institutions, or serving as directors or substantial shareholders in such firms. MAS stated they are not 'fit and proper' persons under financial regulations due to the severity of their misconduct.