SINGAPORE: A former branch manager of Falcon Private Bank was sentenced to 28 weeks jail and fined S$128,000 after he pleaded guilty to six counts including consenting in the bank’s failure to comply with Singapore’s anti-money laundering rules in relation to the 1Malaysia Development Bhd (1MDB) scandal.
Swiss national Jens Sturzenegger, 42, was charged on Jan 5 with 16 counts including failing to report suspicious transactions tied to inflows of about US$1.265bil (S$1.81bil) into two accounts between March 21 and 25, 2013.
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