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The 100 Headlines Rewind: 1MDB and The Affected Banks

As Malaysia’s 1MDB controversy hits breaking point, the news started almost 2 years ago in late 2014.

News on 1MDB had intensified since March 2016 this year.  The continued investigation and scrutiny had unearthed numerous people and alongside, throwing Private Banks such as Falcon Bank and BSI into the spotlight.

We recap the 100 top news and headlines build up from March 2016 to October 2016, all from leading financial publishers such as as Wall Street Journal, Reuters, Bloomberg, Financial Times, CNBC, Finews.asia and Caproasia Online.


Keywords in News:

Private Banks in the News: Falcon Bank, BSI, UBS, DBS, Julius Baer

Investment Bank in the News: Goldman Sachs

Country Spotlight: Malaysia, Switzerland, Singapore United States

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Key Names: Najib Razak, Riza Aziz, Jho Low, Mohamed Badawy al-Husseiny

Key Bankers: Tim Leissner, Hanspeter Brunner, Yak Yew Chee, Yvonne Seah

Whistle Blower: Xavier Justo

What’s Hot: Leonardo Di Caprio, Wolf of Wall Street

 

The 100 Headlines

March 2016 – October 2016 in Reverse Chronological order

In October 2016

1MDB case and the affected banks imploded.  Central Banks in Switzerland and Singapore issue fines and shut down banks.  Criminal investigation and lawsuits commences.  Getting serious.

Date The Headlines Source
14/10/16 Malaysian Fund 1MDB Linked to White House Visit Wall Street Journal
13/10/16 1MDB: The Masterminds, the Swiss Bankers and the Hollywood Star Finews.asia
12/10/16 Swiss Banking’s Reputational Wipeout Finews.asia
12/10/16 Falcon Out of Asia Entirely After 1MDB Scandal Finews.asia
12/10/16 Falcon Bank faces Swiss criminal probe in 1MDB case CNBC
12/10/16 Falcon Faces Swiss Criminal Probe over 1MDB Finews.asia
11/10/16 Singapore Regulator Shuts Falcon Bank as Manager Arrested Finews.asia
11/10/16 Falcon Bosses Ignored Staff Warnings on 1MDB Finews.asia
11/10/16 UBS Doesn’t Escape Unscathed from 1MDB Finews.asia
11/10/16 DBS Reacts to MAS Ruling Finews.asia
11/10/16 Singapore, Swiss Regulators Slam Falcon Over 1MDB Breaches Bloomberg
11/10/16 Singapore Fines Two Big Banks and Shuts Down Another Over 1MDB Scandal Fortune
11/10/16 Singapore shuts Falcon bank unit, fines DBS and UBS over 1MDB Reuters
11/10/16 DBS and UBS Fined Over 1MDB Fund Flows Finews.asia
11/10/16 Singapore shuts second Swiss bank over 1MDB corruption scandal Financial Times
10/10/16 Falcon Private Bank Shut Down in Singapore CNBC
10/10/16 Criminal Charges Filed Against Two Ex-Bankers in 1MDB Malaysia Fund Case Wall Street Journal
10/10/16 Two Ex- BSI SA Bankers Criminally Charged Bloomberg
10/10/16 DBS & UBS Fined by MAS on 1MDB Finews.asia
10/10/16 Falcon Private Bank Shut Down in Singapore Caproasia Online
10/10/16 Two Ex- BSI SA Bankers Criminally Charged Caproasia Online
10/10/16 DBS & UBS Fined by MAS on 1MDB Caproasia Online
10/10/16 Singapore Central Bank Fines Three Banks in 1MDB Investigation Wall Street Journal
10/10/16 Singapore charges 2 former BSI bankers in 1MDB probe Financial Times
6/10/16 Falcon Denies Sale Talks Amid 1MDB Probe Finews.asia
5/10/16 Falcon Private Bank is Not up for Sale Amid 1MDB Probe Caproasia Online
5/10/16 Switzerland Probes $800 Million 1MDB Fraud, Ponzi Scheme Finews.asia

 

 

In September 2016

Ongoing investigations uncover traces, prompts subtle moves to recover reputation.  The calm before the storm.

Date The Headlines Source
23/9/16 1MDB: Swiss Citizen Denied Return Finews.asia
8/9/16 1MDB: Falcon CEO to Clean Up in Singapore Finews.asia
6/9/16 Rainforest Fund Queries Julius Baer on Di Caprio Ties and 1MDB Finews.asia
1/9/16 How $1 Billion Made Its Way to the Prime Minister Wall Street Journal

 

In August 2016

Queries, challenges and counter-challanges as probes go viral.  Lawsuits and trials to begin.  More names surfaced and more actions over money matters.  Clients pull money out from BSI, Ex-BSI CEO settles bonus lawsuit … …

Date The Headlines Source
29/8/16 1MDB: Swiss Foundation Challenges DiCaprio Finews.asia
26/8/16 1MDB: Pre-Trial Conference Date Set Finews.asia
22/8/16 Ex Falcon Chairman Arrested in 1MDB Probe Caproasia Online
22/8/16 Ex-Falcon Chairman and Abu Dhabi Official Arrested in 1MBD Probe Finews.asia
19/8/16 Ex BSI CEO Settles Bonus Lawsuit Bloomberg
17/8/16 Falcon Private Bank Banned from Taking Singapore Business Caproasia Online
17/8/16 Falcon Private Bank Banned From Acquiring New Singapore Business-Report Finews.asia
17/8/16 Malaysia Central Bank Says 1MDB Probe Closed Finews.asia
15/8/16 Swiss Probe Ex- Abu Dhabi Official on 1MDB Bloomberg
15/8/16 Swiss Probe Ex- Abu Dhabi Official on 1MDB Caproasia Online
15/8/16 Swiss Probe Ex-Abu Dhabi Official Over 1MDB Finews.asia
15/8/16 Swiss probe ex-Abu Dhabi official over alleged Malaysia fund scam Financial Times
10/8/16 Clients Pull Money Out From BSI Caproasia Online
10/8/16 Clients Pull Money From BSI in Wake of 1MDB Finews.asia
6/8/16 Singapore Central Bank says 1MDB bond sale funds did not pass through local banks CNBC
5/8/16 Goldman Sachs Gets Second Query on 1MDB Reuters
5/8/16 Goldman Sachs Gets Second Query on 1MDB Caproasia Online
5/8/16 Goldman Sachs Pressed for 1MDB Clarification Finews.asia
1/8/16 Mahathir hits out at Singapore over 1MDB inaction Financial Times

 

In July 2016

United States and Switzerland seized assets while Central Banks and banks continue investigation.  More bank names surfaced: DBS, Falcon, UBS.

Date The Headlines Source
30/7/16 Reports: US, Singapore request documents on Goldman Sachs’ work on 1MDB CNBC
27/7/16 Malaysia Will Not Shield 1MDB Wrong-Doers Finews.asia
26/7/16 Deloitte Resigns as 1MDB Auditor Wall Street Journal
22/7/16 1MDB: What You Need to Know Finews.asia
22/7/16 Fine Art Linked to 1MDB Seized in Switzerland Finews.asia
21/7/16 Leonardo DiCaprio’s Cameo Role in 1MDB’s Growing Drama Wall Street Journal
21/7/16 MAS to Take Action Against Singapore Banks Over 1MDB Citywire
21/7/16 Several Banks Named in Singapore Regulator’s 1MDB Update Finews.asia
21/7/16 UBS Slow on Spotting 1MDB Funds Finews.asia
20/7/16 U.S. to Pounce on 1MDB Assets Finews.asia
20/7/16 US moves to seize $1bn in Malaysia assets Financial Times
18/7/16 1MDB Scandal Widens To Other Swiss Banks Finews.asia
16/7/16 DBS, Falcon & UBS Face Singapore Scrutiny Over 1MDB Transactions Reuters
13/7/16 Ex BSI CEO Lodges Lawsuit Over Bonus Amid 1MDB Probe Straits Times
13/7/16 Ex BSI CEO Lodges Lawsuit Over Bonus Caproasia Online
13/7/16 UBS Faces MAS Scrutiny for 1MDB Finews.asia
12/7/16 1MDB Scandal Reaches UBS Finews.asia
6/7/16 Goldman Sachs Investigated in 1MDB Probe Finews.asia

 

In June 2016

BSI and Goldman Sachs in defence.

Date The Headlines Source
23/6/16 BSI Appealing Swiss Regulator Actions Against It Over 1MDB Wall Street Journal
23/6/16 BSI Appeals Against Regulator’s Ruling Bloomberg
23/6/16 BSI Hits Back at Swiss 1MDB Ruling Finews.asia
9/6/16 Blame in 1MDB Bond Deal Shifted to Swiss Finews.asia
8/6/16 Singapore Central Bank says 1MDB bond sale funds did not pass through local banks Caproasia Online
7/6/16 Goldman Sachs Investigated in 1MDB Probe Caproasia Online
7/6/16 Goldman Sachs Wrapped Up in 1MDB Probe Finews.asia

 

In May 2016

BSI in intense scrutiny as Banker slapped with more charges, and with BSI CEO resignation.

Date The Headlines Source
30/5/16 Malaysia 1MDB Probe Inadequate, Journal Says Finews.asia
25/5/16 Jay Low: The Public Face of 1MDB Finews.asia
24/5/16 Swiss Bank Is Charged Over 1MDB Dealings Wall Street Journal
24/5/16 BSI CEO Resigns After MAS Decision Finews.asia
24/5/16 MAS Directs BSI Bank to Shut Down in Singapore MAS Press Release
24/5/16 BSI CEO Resigns After MAS Decision Caproasia Online
24/5/16 MAS Directs BSI Bank to Shut Down in Singapore Caproasia Online
24/5/16 Singapore Tells BSI to Shutdown Finews.asia
23/5/16 BSI – the End of a Swiss Private Bank Finews.asia
20/5/16 Ex-BSI Banker Remains in Custody Finews.asia
13/5/16 Ex-BSI Banker Hit with Forgery Charge Finews.asia
5/5/16 Further Charges for Ex-BSI Banker Bloomberg
5/5/16 Further Charges for Ex-BSI Banker Caproasia Online
5/5/16 Further Charges for Ex-BSI Banker Finews.asia
4/5/16 Malaysia to Dissolve 1MDB Board Headed by Prime Minister Najib Razak Wall Street Journal 
2/5/16 1MDB: RBS Coutts Now Under Investigation Finews.asia

 

In April 2016

Spotlight on BSI Private Banker over 1MDB’s transactions.

Date The Headlines Source
28/4/16 Ex-BSI Private Banker Faces 2 More Charges Reuters
28/4/16 Ex-BSI Banker Facing Further Charges Finews.asia
25/4/16 1MDB Confirms It Defaulted on $1.75 Billion Bond Issue Wall Street Journal
22/4/16 BSI Private Banker is Charged Finews.asia
6/4/16 1MDB Casts Shadow over BSI Finews.asia

 

In March 2016

Ongoing 1MDB case resulted in first banking casualty.

Date The Headlines Source
11/3/16 Falcon Private Bank CEO Denies Wrong-doing Finews.asia
11/3/16 1MDB Scandal: Falcon CEO Eduardo Leemann Denies Wrongdoing Finews.asia
11/3/16 BSI Banker in Singapore Dismissed Finews.asia
25/2/16 Goldman Sachs 1MDB Banker Departs Finews.asia


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