A Swiss appeals court has rejected a former BSI banker’s attempt to lift his regulatory ban over 1MDB-linked failures.
The Federal Administrative Court turned down the appeal to lift a three-year regulatory ban over failure to properly combat money laundering, according to a «Reuters» report citing an official ruling.
A former senior executive at BSI, which was unnamed over Swiss restrictions, argued that FINMA’s ban was based on factual errors.
The 1MDB scandal has taken a turn for the better this year as authorities have made progress in their asset recovery campaign. They include settlement deals with various entities involved including global banks like J.P. Morgan, Deutsche Bank and Goldman Sachs.
