News

Switzerland's case against Falcon Private Bank for involvement in the 1MDB corruption and money laundering scandal comes at a critical time for prosecutors in the Alpine nation after several high-profile setbacks in their efforts to tackle white collar crime. After a four-year investigation, Switzerland's Office of the Attorney General asked the Federal Criminal Court in Bellinzona on Thursday to launch proceedings against the Zurich-based lender and its former CEO Eduardo Leemann for systemic anti-money laundering failures related to the bank's handling of billions of dollars siphoned from 1MDB, the Malaysian sovereign wealth fund at the center of a global corruption...