| Falcon Private Bank has not seen an impact on its business following publicity about an investigation into the activities of a Malaysian sovereign wealth fund, the Swiss bank's chief executive said. The Wall Street Journal reported last year that investigators had traced nearly $700 million from an account at Falcon Private Bank in Singapore to accounts in Malaysia they believed belonged to Malaysia's Prime Minister Najib Razak.
Falcon, owned by Abu Dhabi sovereign wealth fund International Petroleum Investment Company, has said it is in contact with Singapore's central bank and will cooperate with authorities. The Malaysian fund, 1Malaysia Development Berhad, is being investigated by several authorities, including Malaysia, Switzerland and the United States...............................................Full Article: Source
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