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). "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.
Swiss request further assistance from Malaysia in 1MDB case
Published: 03:06 pm Oct 05, 2016