A Bank of America (BofA) employee in Singapore was charged in court on December 27. The assistant vice president faces allegations of arranging a gathering where controlled drugs were consumed, resulting in the death of another individual.
The charges relate specifically to a Christmas Eve event involving methamphetamine. Bank of America declined to comment on the incident.
Separately, Bank of America’s stock fell 0.41% on December 27. Analysts attributed this underperformance to broader macroeconomic factors, specifically citing uncertainty from recent Federal Reserve rate cuts. This uncertainty created concerns regarding the potential negative impact on the bank’s future net interest income. There was no market reaction explicitly linked to the news from Singapore.