07.10.2016 - Falcon Denies Sale Talks Amid 1MDB Probe
Swiss Falcon Private Bank, which has come under pressure for its involvement in the billion-dollar graft scandal surrounding Malaysian state fund 1MDB, said it isn't for sale. The denial underscores the uncertainty hanging over the bank following a recent, abrupt change in management and a reported ban on accepting new money in Singapore. Falcon is owned by Abu Dhabi sovereign wealth fund International Petroleum Investment Co (IPIC), whose former head Khadem al-Qubaisi is being investigated by Swiss officials on suspicion of fraud, money laundering and corruption in connection with 1MDB..........................................Full Article: Source
Print