Reuters logo
Swiss request further assistance from Malaysia in 1MDB case
October 5, 2016 / 8:56 AM / a year ago

Swiss request further assistance from Malaysia in 1MDB case

ZURICH (Reuters) - Switzerland’s Office of the Attorney General (OAG) has requested further legal assistance from Malaysian authorities as part of its investigation into scandal-hit state fund 1Malaysia Development Berhad (1MDB).

A construction worker talks on the phone in front of a 1Malaysia Development Berhad (1MDB) billboard at the Tun Razak Exchange development in Kuala Lumpur, Malaysia, February 3, 2016. REUTERS/Olivia Harris/File Photo

“On analysing the evidence obtained, the OAG identified further suspect transactions involving the Swiss financial sector,” the OAG said in a statement on Wednesday.

“Firstly, the sum of $800 million appears to have been misappropriated from investments in natural resources made by the SRC sovereign fund. Secondly, it is suspected that a ‘Ponzi’ scheme fraud... was committed to conceal the misappropriations from both the SRC fund and from 1MDB.”

At this stage of its criminal proceedings in connection with 1MDB and SRC International, a former 1MDB subsidiary, four people and one bank are under investigation, the OAG said.

Reporting by Joshua Franklin, edited by John Revill

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below