Singapore: Singapore prosecutors charge 5th person in 1MDB probe

Author(s): Anita Gabriel | Date: January 5, 2017 | Language: English
Source: http://www.businesstimes.com.sg/ | URL: https://goo.gl/2eSzOH | Type: Text

Singapore prosecutors slapped 16 charges on a 42-year-old former branch manager here of Swiss bank Falcon in relation to the massive probe into the fund flows involving 1Malaysia Development Berhad (1MDB).
Jens Sturzenegger, a Swiss national, who was arrested on Oct 5 by the Commercial Affairs Department (CAD) with bail set at S$80,000, appeared in court clad in a white long-sleeve shirt at the mention in the State Court on Thursday.
At the request of Sturzenegger’s lawyer Tan Hee Joek, the accused is expected to plead guilty at a session fixed for Jan 11.
The latest charge would bring the tally up to five so far, the number of individuals charged here in relation to offences involving the high profile case of Malaysia’s state-backed 1MDB money flows.

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