The decision on May 24 by the Monetary Authority of Singapore to force the closure of BSI Bank Ltd – the first merchant bank to be closed in Singapore in 32 years – means that after months of last-ditch defense in Malaysia, the scandal over the state-backed 1Malaysia Development Bhd is finally starting to unravel in legal jurisdictions across the world.
1MBD Starts to Come Apart
1MBD Starts to Come Apart
1MBD Starts to Come Apart
The decision on May 24 by the Monetary Authority of Singapore to force the closure of BSI Bank Ltd – the first merchant bank to be closed in Singapore in 32 years – means that after months of last-ditch defense in Malaysia, the scandal over the state-backed 1Malaysia Development Bhd is finally starting to unravel in legal jurisdictions across the world.