SINGAPORE (May 24): Kelvin Ang Wee Keng, a former remisier with Maybank Kim Eng, has become the fifth person convicted in Singapore for roles related to fund transfers linked to 1Malaysia Development Berhad (1MDB).

Ang, 35, pleaded guilty in court this afternoon for bribing research analyst Jacky Lee Chee Waiy with $3,000 to speed up the preparation of a valuation report needed to support the acquisition of PetroSaudi Oil Services Limited (PSOSL).

Ang was fined $9,000 by district judge Lim Keng Yeow – $1,000 lower than the fine sought by prosecutors. Ang’s three weeks of remand when he was first arrested last year was taken into consideration, the judge added.

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