This is from Ganesh Sahathevan's Blog.
Falcon Private Bank Banned From Acquiring New Singapore Business-Report
Wednesday 17 August 2016
Falcon Private Bank, 1MDB, Khadem al-Qubaisi
Swiss Falcon Private Bank has been banned from taking new money in Singapore due to its dealings with scandal-hit Malaysian state fund 1MDB, according to a media report.
Singapore’s regulator has sanctioned Zurich-based Falcon Private Bank, Swiss business newspaper «Finanz und Wirtschaft» (in German http://www.fuw.ch/article/korruptionsfall-laehmt-falcon-bank-in-singapur/) reported overnight, without disclosing how it came to the information.
The move comes shortly as Swiss authorities home in on former Falcon chairman Khadem al-Qubaisi, according to the «Financial Times» and other media. Al-Qubaisi is the former head of Abu Dhabi's International Petroleum Investment Company, or IPIC.
Falcon Named and Shamed
A spokesman for Falcon didn’t respond to requests for comment. A spokeswoman for MAS didn’t comment.
Falcon is one of a handful of banks including UBS which were named and shamed last month for their involvement with 1MDB.
1MDB - U.S. and officials in other countries believe billions in state money were pilfered from 1MDB for private use, via a complicated web of offshore accounts.
Falcon Private Bank, 1MDB, Khadem al-Qubaisi
Swiss Falcon Private Bank has been banned from taking new money in Singapore due to its dealings with scandal-hit Malaysian state fund 1MDB, according to a media report.
Singapore’s regulator has sanctioned Zurich-based Falcon Private Bank, Swiss business newspaper «Finanz und Wirtschaft» (in German http://www.fuw.ch/article/korruptionsfall-laehmt-falcon-bank-in-singapur/) reported overnight, without disclosing how it came to the information.
The move comes shortly as Swiss authorities home in on former Falcon chairman Khadem al-Qubaisi, according to the «Financial Times» and other media. Al-Qubaisi is the former head of Abu Dhabi's International Petroleum Investment Company, or IPIC.
Falcon Named and Shamed
A spokesman for Falcon didn’t respond to requests for comment. A spokeswoman for MAS didn’t comment.
Falcon is one of a handful of banks including UBS which were named and shamed last month for their involvement with 1MDB.
1MDB - U.S. and officials in other countries believe billions in state money were pilfered from 1MDB for private use, via a complicated web of offshore accounts.
My comments : This is slow, slow death. Someone sent me this comment in the earlier blog post :
- "Inche Syed the fei chai has been spotted back in KL with 'heavy security' (provided by whom?) Last known position was around Conlay area.
- Which probably means the porn film maker is also back in town. Who knows?
- Jasmine Loo and Casey Tang pun dah balik.
- Mungkin dua ekor Melayu tu jugak...
- safer under certain Boogie watch than anywhere else...."
Thank you for the info Ganesh and Commentor. This complicates matters for them even more. The Noose is really tightening. That Khadem fellow also cannot access his US50 million house anymore. It has been sealed.
All their expensive houses overseas have been sealed. They think they are protected back home in Malaysia.
Can I share some information with them. The FBI has a full team based at the US Embassy here in KL (for some time already). Plus I am sure the US has a complete array of intelligence capability in KL, especially when Pencuri No 1 is MFO1. They have some canggih electronic capability. Now all the thieves are located in one place.
Death by a thousand cuts.
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