Swiss Banker Found Guilty in $700 Million 1MDB Transfer
- Former compliance officer fined 50,000 Swiss francs by court
- Coutts employee approved Low’s Seychelles account transfer
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A former Coutts & Co. banker was found guilty of failing to flag money-laundering concerns related to a $700 million transfer into an account controlled by Low Taek Jho, the alleged mastermind behind the 1MDB scandal.
The man, who was only identified as A., was fined 50,000 Swiss francs ($55,000) by the Swiss Federal Criminal Court in a ruling Friday.