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Najib Razak

Singapore jails, fines Swiss bank's ex-manager in 1MDB case

A Singapore court found a former manager at a Swiss private bank guilty of failing to report more than $1.26 billion in suspicious transactions in a case linked to the indebted Malaysian state fund 1 MDB.

The court on Wednesday sentenced Jens Sturzenegger, a Swiss national and former manager at Falcon Private Bank, to 28 weeks in jail and fined him 128,000 Singapore dollars ($89,143). He pleaded guilty to six charges including not disclosing information and lying to investigators.

"The accused had deliberately omitted to report the suspicious transactions, despite the obligation... to do so. I find you guilty and convicted of six charges," said the judge, Ow Yong...

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