More 1MDB misery heaped on employees at Swiss licensed Falcon Private Bank

More 1MDB misery heaped on employees at Swiss licensed Falcon Private Bank

The 1MDB casualty list keeps growing. Staff at Falcon Private Bank owned by Abu Dhabi state fund Mubadala Investment Company, licensed in Switzerland await a decision from Swiss financial markets watchdog FINMA. While Falcon, FINMA and Mubadala all declined to comment it is widely believed the state regulator will order the bank to close in the wake of a 2015 $700m illegal transfer of 1MDB cash.

Timothy
Timothy
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