Goldman 1MDB charges will give bankers shivers

While there

(Bloomberg Opinion) -- First it was the private bankers who were scared. Now, it’s the investment bankers’ turn to cower in the corner.

In 2016, Singapore sent two Swiss private banks - Falcon Private Bank and BSI SA - packing over their role in laundering billions of dollars stolen from 1MDB, a Malaysian sovereign wealth fund. The city-state also fined Credit Suisse Group AG, UBS Group AG, Standard Chartered Plc, Coutts & Co. and DBS Group Holdings Ltd. between  S$700,000 and S$5.2mil.