Anti-Financial Crime & Financial Crime Compliance
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EU/Europe, Financial Crime, Regulatory

Swiss investment bank to stand trial in money laundering case as former CEO faces multi-million euro laundering trial

Image: Falcon Private Bank

By Dan Byrne & Elizabeth Hearst for AMLi

A Swiss investment bank, Falcon Private Bank has been accused of helping one of its former CEOs embezzle £3.8 Million (€3.2 Million) from Malaysia’s beleaguered investment fund 1MDB. 

Falcon, which ceased operations in the country last year, was ordered to hand over €2.3 Million in “illegal profits”  in 2016 in connection with the 1MDB scandal, by the Swiss Financial Market Supervisory Authority (FINMA). 

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