SINGAPORE (Jan 11): Jens Fred Sturzenegger, former branch manager of Falcon Private Bank’s Singapore office, has been sentenced to 28 weeks’ jail and fined $128,000 for offences related to the on-going probe into 1 Malaysia Development Berhad (1MDB).

He was convicted on six charges: two for failing to report suspicious financial transactions, and four other charges for lying to investigators and regulators.

Sturzenegger was pressed with 10 other charges last week, which were taken into consideration in the sentencing on Wednesday.

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