Penang-born billionaire Low Taek Jho, better known as Jho Low, had used "Eric Tan" as a proxy name for opening bank accounts as well as corporate entities.

This was revealed in a Singapore Court during the case of Falcon Private Bank branch manager Jens Fred Sturzenegger, according to Channel News Asia.

On Wednesday, Sturzenegger was sentenced to 28 weeks in jail and fined S$128,000 for failing to comply with anti-money laundering regulations, not highlighting suspicious transactions and providing false information to authorities.