1MDB case: Criminal proceedings opened against the Falcon Bank
Bern, 12.10.2016 - The Office of the Attorney General of Switzerland (OAG) has opened criminal proceedings against the Falcon Private Bank Ltd. 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.