Swiss national Jens Fred Sturzenegger, the branch manager for Falcon Private Bank in Singapore, has been charged with failing to report suspicious transactions and giving false information to authorities in connection with the scandal-plagued 1MDB Malaysian state wealth fund. 1MDB is currently under investigation in several countries after allegations arose that it was used to transfer state […]

Swiss private bank Falcon has been blocked from taking on new business in Singapore by the local central bank and financial regulator, Swiss newspaper Finanz und Wirtschaft said on Wednesday, citing information it had obtained. Falcon is one of the banks under investigation by the Monetary Authority of Singapore (MAS) for a possible breach of […]

(Seychelles News Agency) – No funds or assets linked to investigations targeting a Malaysian state fund — 1Malaysia Development Berhad (1MDB) — have been found in Seychelles to date, the island nation’s authorities said Friday. The Financial Intelligence Unit (FIU) said the probe remains ongoing. In a press statement, the FIU said it is believed that “while the non-financial […]

The first 1Malaysia Development Bhd (1MDB) related arrest has taken place at the request of the United States, in a move that will send shock waves and shivers through the Malaysian political establishment and also in related businesses in Hollywood and Las Vegas. Sources close to Department of Justice officials in the United States have […]