Home News Featured News Switzerland working on 1MDB criminal case

Switzerland working on 1MDB criminal case

Author

Date

Category

- Advertisement -

The Swiss Attorney General’s office has confirmed it has another criminal proceeding pending in the 1MDB case that it is investigating.

In a note to The Independent, the Swiss AG office said while the case is pending, and no further information can be given, such proceedings are dynamic processes.

“Attention should be paid to the fact, that criminal proceedings are dynamic processes and the total sum can vary due to confiscations respectively releases of confiscated assets during the course of time of the proceedings.”

Currently, there is a criminal proceeding against the Falcon bank.

- Advertisement -

The decision to open proceedings is based on information revealed by the investigations in the 1MDB case and on issues raised in the decision of the Swiss Financial Market Supervisory Authority FINMA from early October 2016.

The OAG suspects deficiencies in the internal organisation of the Falcon Private Bank Ltd. It is believed that due to these deficiencies, the bank was unable to prevent the commission of the offences currently under investigation in the criminal proceedings relating to 1MDB.

Send in your scoop to news@theindependent.sg 

- Advertisement -

Jolin Tsai’s perky butt got the internet abuzz

Taipei -- Mandopop diva Jolin Tsai isn't shy of flaunting her figure in all kinds of sexy and revealing outfits and her fans are just lapping it up. The 40-year-old singer uploaded a couple of photos from her trip to Yangmingshan...

Man attacks teen, calls him a virus, damages his phone

Singapore—A sudden attack took a teen by surprise when one man started yelling at him, physically harming him, and throwing his phone into a nearby drain at around 10.30pm on Tuesday (Feb 23) on a section of the road near the...

3 migrant workers die after 10 injured in Tuas industrial building blast

Singapore – Three of the 10 workers injured in an explosion at an industrial building in Tuas on Wednesday (Feb 24) died on Thursday. The Singapore Civil Defence Force (SCDF) responded to a fire at No. 32E Tuas Avenue 11 at around...

Send in your scoop to news@theindependent.sg 

Theindependent