Singapore files 16 charges on Falcon Bank branch manager in state fund 1MDB probe

Singapore-files-16-charges-on-Falcon-Bank-branch-manager-in-state-fund-1MDB-probe

SINGAPORE, Jan 5 : Singapore prosecutors on Thursday filed 16 charges against the local branch manager of Swiss-based Falcon Private Bank AG, as part of an ongoing investigation tied to the scandal-hit Malaysian state fund 1Malaysia Development Bhd (1MDB).
The bank, which is also being investigated in its home country, was the second Swiss lender whose Singaporean unit was ordered to cease operations last year after BSI Bank Ltd.
The investigations come as the city-state tries to rebuild its reputation as a clean financial centre after the 1MDB scandal dented its image

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