The first foreigner was recently convicted in the 1MDB scandal. According to reports, Jens Sturzenegger, a former branch manager at Falcon Private Bank Ltd. in Singapore, pled guilty to six charges, including failing to report suspicious transactions and was sentenced to 28 weeks in jail and fined $89,000. His lawyer announced Sturzenegger would not appeal the sentence. While Sturzenegger was the first non-Singaporean to be convicted, there were three prior convictions of other Singapore bankers who were involved with the 1MDB scandal.
