Singapore’s central bank Tuesday fined Credit Suisse and United Overseas Bank for breaching anti-money laundering rules in connection with Malaysian sovereign wealth fund 1Malaysia Development Berhad.
Posts Tagged: BSI SA
Singapore authorities are banning the former director of Goldman Sachs in Singapore for ten years for his role in the 1MDB scandal.
Prosecutors in the Singapore trial of a former BSI banker said this week the defendant and other former employees of the Swiss bank helped launder up to $2.3 billion looted from the Malaysia sovereign wealth fund 1MDB.… Continue Reading
Authorities in Singapore Monday charged two ex-BSI SA bankers for their role in helping divert money from a Malaysia sovereign wealth fund.
Private banker Yak Yew Chee, 57, was charged with seven criminal counts, including forgery and failing to report suspicious transactions.… Continue Reading
Singapore said Thursday it has seized property and bank accounts linked to money allegedly diverted from Malaysia’s sovereign wealth fund, 1Malaysia Development Berhad.
The seized property and accounts are worth about $177 million, Singapore authorities said.… Continue Reading
The DOJ said Friday that two banks, Bank Linth LLB AG and Bank Sparhafen Zurich AG, reached deals to resolve criminal charges for helping U.S. taxpayers evade taxes.
Lugano-based BSI SA on Monday became the first bank to use a DOJ amnesty program to resolve potential criminal offenses for helping U.S. taxpayers use secret accounts and offshore shell companies to evade taxes.… Continue Reading