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Friday, July 24, 2015

Ex-1MDB execs on BNM’s ‘Wanted’ poster

Casey Tang and Jasmine Low are sought in investigations under the Exchange Control Act.
BANK-negara
KUALA LUMPUR: Bank Negara Malaysia (BNM) has posted a “Wanted” notice seeking former 1Malaysia Development Berhad (1MDB) executives Casey Tang and Jasmine Loo in connection with investigations on the scandal-ridden government-owned company.
In a poster appearing on its Facebook page, the central bank announced it was looking for Casey Tang Keng Chee, 50, and Jasmine Loo Ai Swan, 42, in investigations under the Exchange Control Act of 1953.
It called on members of the public with information on the whereabouts of the two to contact the bank or lodge police reports.
According to the whistle-blowing blog Sarawak Report, Loo was the Legal and Compliance Executive Director of Utama Banking Group Bhd (UBG) and she joined 1MDB in 2011 as its Executive Director of Group Strategy while retaining her positions at UBG and as a director of Putrajaya Perdana Berhad.
Tang is a former executive director of 1MDB and was alleged to have worked with businessman Low Taek Jho and PetroSaudi International executives to get 1MDB to subscribe to US$500 million of murabaha notes.
The Edge Weekly reported on June 7 that Low had used around US$260 million of the money to buy UBG Bhd and that Tang and 1MDB chief investment officer Nik Faisal Nik Kamil worked with him and PetroSaudi in the UBG takeover.

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