Michelle Tay

Full Profile

Michelle advises and assists clients on complex internal investigations and regulatory enforcement action involving white-collar offences, including corruption, fraud, money laundering, and employee misconduct.

She supports corporations on regulatory compliance issues, with a focus on anti-bribery and anti-money laundering frameworks, internal investigation procedures and crisis management strategies in response to regulatory enforcement action.

Michelle also acts for clients in commercial disputes and international arbitration across complex and high-value matters.

Prior to joining Clyde & Co, Michelle spent almost seven years with the Attorney General’s Chambers as a Deputy Public Prosecutor, where she specialised in prosecuting complex white-collar crimes.

During her time as a prosecutor, Michelle oversaw significant complex investigations by the Commercial Affairs Department and the Monetary Authority of Singapore, including for cross-border money laundering, fraud, embezzlement, market manipulation and financial regulatory breaches. She advised the Singapore Government on investigative and enforcement strategies, including dawn raids, asset seizures and investigative statement recording, and regularly advised regulatory authorities on corporate and directors’ liability and corporate risk management standards, particularly in AML/CFT compliance. Michelle was also lead counsel representing the State in criminal trials, appeals and asset forfeiture actions before the Singapore courts.

Experience

• Advised an international insurance company on the potential liability of an insured global private bank arising from a complex and extensive fraudulent scheme by the bank’s former employee in its Singapore branch involving investor losses exceeding USD 100 million. Provided Singapore-law white-collar crime liability analysis which directly affected the client’s insurance coverage decisions under Swiss law.
• Advised a global energy and marine consultancy in connection with regulatory investigations conducted by the Ministry of Manpower arising from a major industrial incident during site operations, supporting on preparation for investigative interviews and advise on potential liability exposure.
• Conducting a complex cross-border internal investigation for a global manufacturer in the energy sector arising from whistleblowers’ allegations of invoicing fraud, embezzlement and corruption involving a senior executive.
• Advised a Singapore-based professional training and examination body in connection with an ongoing sensitive internal investigation. Engaged mid-process to review and restructure the investigation, conduct witness interviews, assess evidence, and prepare the investigative report. Advised on regulatory engagement and disclosure issues, and supported governance enhancements, including updates to internal policies and the development of an investigation protocol.
• Acted for a Malaysian subsidiary of a multinational energy company in a cross-border investigation to trace and recover highly technical oilfield equipment that had been sub-leased, without the client’s knowledge or consent, to a potentially sanctioned entity. Led the investigative strategy, advised on injunctive relief and potential remedies to recover losses, and successfully supported the recovery of the assets to Malaysia.
• Acted for the State in a multi-billion-dollar cross-border money laundering prosecution. Provided real-time advice to enforcement authorities on investigative strategies, including on asset seizure, remand of suspects and funds tracing. Secured the convictions of the offenders, and successfully applied for the forfeiture of over SGD 900M to the State.*
• Oversaw investigations into a USD 800M fraudulent copy-trading forex investment scheme. Advised on and successfully defended the Police’s seizure of USD 100M worth of crypto assets.*
• Defended an appeal in the Court of Appeal concerning an elaborate market manipulation scheme that led to the penny stock crash which wiped out almost SGD 8 billion in market value from the Singapore Exchange.*
• Succeeded in a criminal appeal on behalf of the State in Public Prosecutor v Zheng Jia [2025] SGHC 76, in which the Singapore High Court introduced a new sentencing framework for a professional “nominee” director’s breach of their statutory duty to exercise reasonable diligence.*
• Advised on the imposition of financial penalties on banks (including a Domestically Systemically Important Bank (D-SIB) and a global private bank), and various payment services licensees for breaches of AML/CFT regulations, and for mis-selling of financial products.*

* Experience prior to joining Clyde & Co

Qualifications

Education

• L.L.M, New York University (2018)
• L.L.B (First Class Honours), King’s College London (2017)

Bar

• Singapore

Scholarship awards

• Public Service Commission Singapore Government Scholarship (Open) Award