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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

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.

DateThe HeadlinesSource
14/10/16Malaysian Fund 1MDB Linked to White House VisitWall Street Journal
13/10/161MDB: The Masterminds, the Swiss Bankers and the Hollywood StarFinews.asia
12/10/16Swiss Banking’s Reputational WipeoutFinews.asia
12/10/16Falcon Out of Asia Entirely After 1MDB ScandalFinews.asia
12/10/16Falcon Bank faces Swiss criminal probe in 1MDB caseCNBC
12/10/16Falcon Faces Swiss Criminal Probe over 1MDBFinews.asia
11/10/16Singapore Regulator Shuts Falcon Bank as Manager ArrestedFinews.asia
11/10/16Falcon Bosses Ignored Staff Warnings on 1MDBFinews.asia
11/10/16UBS Doesn’t Escape Unscathed from 1MDBFinews.asia
11/10/16DBS Reacts to MAS RulingFinews.asia
11/10/16Singapore, Swiss Regulators Slam Falcon Over 1MDB BreachesBloomberg
11/10/16Singapore Fines Two Big Banks and Shuts Down Another Over 1MDB ScandalFortune
11/10/16Singapore shuts Falcon bank unit, fines DBS and UBS over 1MDBReuters
11/10/16DBS and UBS Fined Over 1MDB Fund FlowsFinews.asia
11/10/16Singapore shuts second Swiss bank over 1MDB corruption scandalFinancial Times
10/10/16Falcon Private Bank Shut Down in SingaporeCNBC
10/10/16Criminal Charges Filed Against Two Ex-Bankers in 1MDB Malaysia Fund CaseWall Street Journal
10/10/16Two Ex- BSI SA Bankers Criminally ChargedBloomberg
10/10/16DBS & UBS Fined by MAS on 1MDBFinews.asia
10/10/16Falcon Private Bank Shut Down in SingaporeCaproasia Online
10/10/16Two Ex- BSI SA Bankers Criminally ChargedCaproasia Online
10/10/16DBS & UBS Fined by MAS on 1MDBCaproasia Online
10/10/16Singapore Central Bank Fines Three Banks in 1MDB InvestigationWall Street Journal
10/10/16Singapore charges 2 former BSI bankers in 1MDB probeFinancial Times
6/10/16Falcon Denies Sale Talks Amid 1MDB ProbeFinews.asia
5/10/16Falcon Private Bank is Not up for Sale Amid 1MDB ProbeCaproasia Online
5/10/16Switzerland Probes $800 Million 1MDB Fraud, Ponzi SchemeFinews.asia

 

 

In September 2016

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

DateThe HeadlinesSource
23/9/161MDB: Swiss Citizen Denied ReturnFinews.asia
8/9/161MDB: Falcon CEO to Clean Up in SingaporeFinews.asia
6/9/16Rainforest Fund Queries Julius Baer on Di Caprio Ties and 1MDBFinews.asia
1/9/16How $1 Billion Made Its Way to the Prime MinisterWall 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 … …

DateThe HeadlinesSource
29/8/161MDB: Swiss Foundation Challenges DiCaprioFinews.asia
26/8/161MDB: Pre-Trial Conference Date SetFinews.asia
22/8/16Ex Falcon Chairman Arrested in 1MDB ProbeCaproasia Online
22/8/16Ex-Falcon Chairman and Abu Dhabi Official Arrested in 1MBD ProbeFinews.asia
19/8/16Ex BSI CEO Settles Bonus LawsuitBloomberg
17/8/16Falcon Private Bank Banned from Taking Singapore BusinessCaproasia Online
17/8/16Falcon Private Bank Banned From Acquiring New Singapore Business-ReportFinews.asia
17/8/16Malaysia Central Bank Says 1MDB Probe ClosedFinews.asia
15/8/16Swiss Probe Ex- Abu Dhabi Official on 1MDBBloomberg
15/8/16Swiss Probe Ex- Abu Dhabi Official on 1MDBCaproasia Online
15/8/16Swiss Probe Ex-Abu Dhabi Official Over 1MDBFinews.asia
15/8/16Swiss probe ex-Abu Dhabi official over alleged Malaysia fund scamFinancial Times
10/8/16Clients Pull Money Out From BSICaproasia Online
10/8/16Clients Pull Money From BSI in Wake of 1MDBFinews.asia
6/8/16Singapore Central Bank says 1MDB bond sale funds did not pass through local banksCNBC
5/8/16Goldman Sachs Gets Second Query on 1MDBReuters
5/8/16Goldman Sachs Gets Second Query on 1MDBCaproasia Online
5/8/16Goldman Sachs Pressed for 1MDB ClarificationFinews.asia
1/8/16Mahathir hits out at Singapore over 1MDB inactionFinancial Times

 

In July 2016

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

DateThe HeadlinesSource
30/7/16Reports: US, Singapore request documents on Goldman Sachs’ work on 1MDBCNBC
27/7/16Malaysia Will Not Shield 1MDB Wrong-DoersFinews.asia
26/7/16Deloitte Resigns as 1MDB AuditorWall Street Journal
22/7/161MDB: What You Need to KnowFinews.asia
22/7/16Fine Art Linked to 1MDB Seized in SwitzerlandFinews.asia
21/7/16Leonardo DiCaprio’s Cameo Role in 1MDB’s Growing DramaWall Street Journal
21/7/16MAS to Take Action Against Singapore Banks Over 1MDBCitywire
21/7/16Several Banks Named in Singapore Regulator’s 1MDB UpdateFinews.asia
21/7/16UBS Slow on Spotting 1MDB FundsFinews.asia
20/7/16U.S. to Pounce on 1MDB AssetsFinews.asia
20/7/16US moves to seize $1bn in Malaysia assetsFinancial Times
18/7/161MDB Scandal Widens To Other Swiss BanksFinews.asia
16/7/16DBS, Falcon & UBS Face Singapore Scrutiny Over 1MDB TransactionsReuters
13/7/16Ex BSI CEO Lodges Lawsuit Over Bonus Amid 1MDB ProbeStraits Times
13/7/16Ex BSI CEO Lodges Lawsuit Over BonusCaproasia Online
13/7/16UBS Faces MAS Scrutiny for 1MDBFinews.asia
12/7/161MDB Scandal Reaches UBSFinews.asia
6/7/16Goldman Sachs Investigated in 1MDB ProbeFinews.asia

 

In June 2016

BSI and Goldman Sachs in defence.

DateThe HeadlinesSource
23/6/16BSI Appealing Swiss Regulator Actions Against It Over 1MDBWall Street Journal
23/6/16BSI Appeals Against Regulator’s RulingBloomberg
23/6/16BSI Hits Back at Swiss 1MDB RulingFinews.asia
9/6/16Blame in 1MDB Bond Deal Shifted to SwissFinews.asia
8/6/16Singapore Central Bank says 1MDB bond sale funds did not pass through local banksCaproasia Online
7/6/16Goldman Sachs Investigated in 1MDB ProbeCaproasia Online
7/6/16Goldman Sachs Wrapped Up in 1MDB ProbeFinews.asia

 

In May 2016

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

DateThe HeadlinesSource
30/5/16Malaysia 1MDB Probe Inadequate, Journal SaysFinews.asia
25/5/16Jay Low: The Public Face of 1MDBFinews.asia
24/5/16Swiss Bank Is Charged Over 1MDB DealingsWall Street Journal
24/5/16BSI CEO Resigns After MAS DecisionFinews.asia
24/5/16MAS Directs BSI Bank to Shut Down in SingaporeMAS Press Release
24/5/16BSI CEO Resigns After MAS DecisionCaproasia Online
24/5/16MAS Directs BSI Bank to Shut Down in SingaporeCaproasia Online
24/5/16Singapore Tells BSI to ShutdownFinews.asia
23/5/16BSI – the End of a Swiss Private BankFinews.asia
20/5/16Ex-BSI Banker Remains in CustodyFinews.asia
13/5/16Ex-BSI Banker Hit with Forgery ChargeFinews.asia
5/5/16Further Charges for Ex-BSI BankerBloomberg
5/5/16Further Charges for Ex-BSI BankerCaproasia Online
5/5/16Further Charges for Ex-BSI BankerFinews.asia
4/5/16Malaysia to Dissolve 1MDB Board Headed by Prime Minister Najib RazakWall Street Journal 
2/5/161MDB: RBS Coutts Now Under InvestigationFinews.asia

 

In April 2016

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

DateThe HeadlinesSource
28/4/16Ex-BSI Private Banker Faces 2 More ChargesReuters
28/4/16Ex-BSI Banker Facing Further ChargesFinews.asia
25/4/161MDB Confirms It Defaulted on $1.75 Billion Bond IssueWall Street Journal
22/4/16BSI Private Banker is ChargedFinews.asia
6/4/161MDB Casts Shadow over BSIFinews.asia

 

In March 2016

Ongoing 1MDB case resulted in first banking casualty.

DateThe HeadlinesSource
11/3/16Falcon Private Bank CEO Denies Wrong-doingFinews.asia
11/3/161MDB Scandal: Falcon CEO Eduardo Leemann Denies WrongdoingFinews.asia
11/3/16BSI Banker in Singapore DismissedFinews.asia
25/2/16Goldman Sachs 1MDB Banker DepartsFinews.asia




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