A Swiss branch manager of Falcon Private Bank in Singapore has pleaded guilty to six charges in connection with the 1MDB scandal. The banker was the first foreigner to be charged by the authorities in Singapore.
Jens Sturzenegger, 42, pleaded guilty to six counts including conniving in the bank's failure to comply with anti-money laundering regulation in Singapore, «The Straits Times» reported today.
The Swiss national is the first foreigner to be charged in connection with the scandal surrounding the 1MDB state fund of Malaysia. The prosecution wants him to be sentenced to 30 to 32 weeks imprisonment.
Links to Jho Low Denied
Sturzenegger on January 5 was charged with 16 counts including the failure to report suspicious transactions in connection with the inflow of $1.265 billion into two accounts in March 2013, the newspaper said.
The Swiss also was accused of lying to the police about his ties to Jho Low, a businessman at the centre of the scandal. Sturzenegger was arrested on October 5 and subsequently was freed on bail.
Free On Bail
The Singapore regulator in October 2016 ordered the closure of Falcon Bank in the country, the second Swiss bank after BSI to be told to cease operating in the city-state.
