17:59 GMT +321 November 2019
Listen Live
    File Photo: Malaysian police seize equipment from the 1Malaysia Development Berhad (1MDB) office in Kuala Lumpur on July 8, 2015

    Switzerland Investigates Into Alleged Violations of Law by Malaysian Fund

    © AFP 2019 / MOHD RASFAN
    Get short URL

    Switzerland's chief prosecutor asked Malaysian authorities for legal assistance in its investigation into possible violations of Swiss law by 1Malaysia Development Berhad (1MDB) wealth fund, prosecutor's office said in a statement.

    MOSCOW (Sputnik) — According to the statement, the prosecutors are planning to inquire into misappropriation of some $4 billion, with part of this sum transferred to accounts of former Malaysian officials in Switzerland and the United Arab Emirates.

    "As part of the proceedings initiated on 14 August 2015 criminal proceedings against two former directors and officers of the Malaysian sovereign wealth fund 1MDB (1Malaysia Development Berhad) <…> chief prosecutor has asked the Malaysian authorities for mutual legal assistance," the statement said on Friday.

    The statement added that the investigation had already found serious evidences of non-compliance with Swiss legislation in at least four cases of alleged criminal conduct committed in 2009-2013.

    In 2015, 1MBD was also involved in the scandal, when critics of Malaysian Prime Minister Najib Razak claimed that over $680 million from the fund had been transferred into the prime minister’s private bank account.


    Switzerland Ready to Grant Entry to Syrian Opposition for Geneva Talks
    Aimed to Protect? Swiss Troops Used Drugs While Serving at Davos Summit
    Swiss Police Withdrew Permission for Pegida to Hold Rally in Basel
    Swiss-Based Holding 'Confident About Russian Market,' Seeks to Invest
    investigation, violation of law, fund, 1Malaysia Development Berhad (1MDB), Switzerland
    Community standardsDiscussion
    Comment via FacebookComment via Sputnik