A Swiss banker was charged in Singapore on Thursday with money laundering and other offences related to an international corruption scandal involving neighbouring Malaysia's state fund 1MDB.
Allegations that huge sums were misappropriated from the Malaysian state fund triggered a scandal which has embroiled Malaysian Prime Minister Najib Razak, who has so far weathered the resulting political storm.
Jens Fred Sturzenegger, 42, who headed the Singapore branch of Swiss lender Falcon Private Bank, was slapped with six charges for allegedly failing to report suspicious transactions totalling $1.7 billion in March 2013.
One transaction alone involved $1.265 billion.