Edmond de Rothschild convicted of money laundering, fined €25 mln

Edmond de Rothschild office.
In a landmark judgment with international resonance, a Luxembourg district court has, for the first time, convicted a domestic bank of money laundering, ordering the confiscation of 25 million euro from Edmond de Rothschild (Europe) S.A. for its role in the cross-border misappropriation of funds from Malaysia’s 1MDB sovereign wealth fund.
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