Ex-banker accused of helping in Olympus fraud granted bail

A former Singapore banker charged with helping Japan’s Olympus Corp engineer a US$1.7 billion accounting fraud was granted bail by a US judge on Friday.

Chan Ming Fon, a Taiwan citizen who lives in Singapore, may be released on US$5 million bail, secured by US $1 million of cash and US$4.5 million of properties, according to an order by US District Judge Laura Taylor Swain in Manhattan.

The former Commerzbank AG and Societe Generale banker had been arrested on Dec. 20 in Los Angeles.

via Business feed http://www.scmp.com/business/article/1136533/ex-banker-accused-helping-olympus-fraud-granted-bail