S’pore Deutsche Bank exec under scrutiny

KUALA LUMPUR: Singapore authorities probing into the 1MDB scandal are looking at the role of an outgoing senior Deutsche Bank AG executive in the case, according to people with knowledge of the matter.

Bloomberg reported that Tan Boon Kee, who was Asia-Pacific head of the German bank’s financial institutions group, had been interviewed by the city’s Commercial Affairs Department as recently as last month, said one source.

The Monetary Authority of Singapore had also quizzed Deutsche Bank about the extent of Tan’s involvement with the 1MDB account, sources said.

Tan stepped down from her role at Deutsche Bank last month and is on garden leave.

She had not been accused of any wrongdoing, and it was not clear whether her departure was linked to the 1MDB probe.

Tan declined to comment, as did a spokesman for Deutsche Bank. In response to a request for comment, Singapore police said as “investigations into 1MDB related matters are still ongoing, it is inappropriate to comment further on this matter”.

The inquiries were part of a globe-spanning criminal probe into the troubled Malaysian state fund where RM$4.5 billion was allegedly siphoned off.

Investigators in Singapore had asked Tan about her dealings with Low Taek Jho.

Low, wanted in Malaysia and Singapore for alleged money laundering, had been described by United States prosecutors as the man behind the 1MDB scheme, though he had consistently denied wrongdoing.

Tan had also been questioned about her links with former Goldman Sachs banker Roger Ng.

Ng, who had been interviewed by authorities, introduced Low to Tan, a Goldman Sachs alumnus who joined Deutsche Bank in 2013 and became one of the lead bankers on the 1MDB account.

Deutsche Bank was a key lender to 1MDB and a joint global coordinator for an aborted initial public offering of its energy assets.

Investigations had gathered pace after the surprise election of Prime Minister Tun Dr Mahathir Mohamad, who’s pushing for a quick resolution.