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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.
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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
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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