Swiss banker found guilty in US$700 million 1MDB transfer

Low Taek Jho is being sought by enforcement authorities in graft and money-laundering investigations on 1MDB’s investments and financial deals. – AFP pic, July 31, 2020.

THE Swiss Federal Criminal Court today fined a banker 50,000 Swiss francs (RM233,000) for failing to flag money-laundering concerns related to a transfer of US$700 million (RM3 billion) into an account controlled by fugitive businessman Low Taek Jho.

Bloomberg reported that the Geneva court found the man, a former banker with Coutts & Co identified only as A., guilty for the offence.

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