SINGAPORE: A court in Singapore has found a former manager at a private bank guilty of failing to report more than $1.26 billion in suspicious transactions in a case linked to the indebted Malaysian state fund 1 MDB.
The court sentenced Jens Sturzenegger, a Swiss national and former manager at Falcon Private Bank, to 28 weeks in jail and fined him 128,000 Singapore dollars ($89,143) on Wednesday. He pleaded guilty to six charges including not disclosing information and lying to investigators.
In October, regulators ordered Falcon Private Bank to close down in Singapore and pay a fine of 4.3 million Singapore dollars ($2.99 million).
Investigators in Singapore, Switzerland, Hong Kong and the US are investigating allegations that people close to Malaysian Prime Minister Najib Razak stole over $1 billion from 1MDB.
Singapore jails, fines Swiss bank’s ex-manager in 1MDB case
Singapore jails, fines Swiss bank’s ex-manager in 1MDB case
Stc partners with Qiddiya as Six Flags official connectivity provider
RIYADH: Saudi stc Group has announced its partnership with Qiddiya as the official connectivity partner for the Six Flags theme park, providing telecom services, smart city solutions, and an integrated digital infrastructure in line with global standards, coinciding with the park’s official opening.
Under the partnership, stc will deliver an advanced digital ecosystem to enhance visitors’ experiences at Qiddiya, offering high-performance connectivity and smart technologies to facilitate entry and manage visitor flow within the park, ensuring a seamless and safe experience.
The collaboration reflects stc’s commitment to providing advanced digital infrastructure that supports Qiddiya’s ambitions and elevates the visitor experience.
By leveraging smart connectivity, smart city technologies, and innovative payment solutions, stc aims to deliver an integrated and streamlined experience across the destination.
The initiative also highlights stc’s role in supporting the tourism and entertainment sectors with world-class digital infrastructure that aligns with Saudi Arabia’s vision and future goals.
