Third Swiss Bank is Denounced with another 1MDB Scandal

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Rothschild Bank AG has been found to be in serious breach of Swiss anti-money laundering rules in its dealings with the Malaysian 1MDB sovereign wealth fund. It is the third Swiss bank, after BSI and Hawk, to be embroiled in a scandal, in which enormous sums of money were redirected from 1MDB into the financial balances of dishonest officials.

The Swiss government says it has taken an expert dynamic stance in repatriating the seized Swiss resources of collapsed administrations, referring to the arrival of $600 million to the Philippines, $700 million to Nigeria and $160 million to Kazakhstan.