Swiss Probe of Malaysia Fund Sees $4 Billion Possible Misuse

  • 1MDB is subject of investigations in Malaysia, overseas
  • Malaysia AG dismissed some requests for action against 1MDB

Switzerland’s prosecutors are seeking legal assistance from Malaysia after a probe into a government investment fund revealed “serious indications” that about $4 billion may have been misappropriated from state companies in the Southeast Asian nation.

The Swiss Attorney-General’s office said in a statement Friday that during an investigation of 1Malaysia Development Bhd., four cases involving allegations of criminal conduct and occurring between 2009 and 2013 have so far come to light. It has been ascertained a small amount of funds were transferred to Swiss accounts of former Malaysian public officials, according to the statement. The Swiss authority is seeking help from the Malaysian attorney general to determine whether funds were misappropriated…

Swiss Probe of Malaysia Fund Sees $4 Billion Possible Misuse

Categories : Uncategorized

Leave a Reply

You must be logged in to post a comment.