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Falcon becomes first Swiss lender to be convicted of money laundering in 1MDB-linked case

By Martin Coyle ( December 15, 2021, 15:21 GMT | Insight) -- Falcon Private Bank was today found guilty on money laundering charges and fined 3.5 million francs by Swiss prosecutors, in a case linked to the 1MDB scandal. Falcon has become the first bank to be convicted of money laundering in Switzerland's history. Its former chief executive was found not guilty of the same allegations.Falcon Private Bank was today found guilty on money laundering charges and fined 3.5 million francs ($3.7 million) by Swiss prosecutors in a case linked to the 1MDB scandal....

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