The Swiss federal prosecutor has launched criminal proceedings against the former head of Falcon private bank. The accused denies any wrongdoing.
The office of the attorney general of Switzerland, based in the capital of Bern, has opened criminal proceedings against the former boss of Falcon Private Bank, according to a report in «Handelszeitung». The office confirmed the report in a written statement to the newspaper.
The proceedings were launched on suspicion of qualified money laundering. A spokesman for the Swiss private banker denied any wrongdoing and said the claims were unfounded.
Not Connected to 1MDB
Falcon was one of the companies involved in the 1MDB corruption and money-laundering scandal and was censored by the Swiss financial market supervisor in 2016. The Swiss executive ran Falcon from 1997 until three years ago.
The attorney’s office had also investigated the bank in connection with 1MDB. The office suspected that the bank’s internal organization was found wanting. The new proceedings against the private banker however are not linked to the 1MDB investigation, the office told «Handelszeitung».
