1MDB case: bank JP Morgan Suisse convicted by summary penalty order
Bern, 22.08.2025 — At the conclusion of criminal proceedings initiated in November 2022, the Office of the Attorney General of Switzerland (OAG) has issued a summary penalty order and partial abandonment of the proceedings. The OAG sentenced J.P. Morgan (Suisse) SA (JP Morgan Suisse) to a fine of CHF 3 million for failing to take all reasonable and necessary organisational measures to prevent acts of aggravated money laundering. The fund transfers took place between October 2014 and July 2015. The outbound transactions totalled approximately CHF 174 million. This conviction is part of a series of proceedings conducted by the OAG relating to the embezzlement of assets from the Malaysian sovereign wealth fund 1Malaysia Development Berhad (1MDB). The private claimant in the case, 1MDB, stated that it will be compensated in the amount of MYR 1.4 billion. For this reason, the OAG has not ordered a compensatory claim.