Swiss Target 2 Banks, 6 Individuals In 1MDB Fraud Case
By Joanne Faulkner (July 10, 2018, 2:50 PM BST) -- Swiss prosecutors said Tuesday they are investigating two banks and six individuals in connection with a multibillion-dollar fraud case in which senior officials allegedly siphoned off funds for "personal enrichment" from the Malaysian sovereign wealth fund at the center of corruption probes worldwide.
Prosecutors in Switzerland are investigating two banks and six officials over a multibillion-dollar fraud case involving 1MBD, the Malaysian sovereign wealth fund. (AP) The six under investigation are two former officials from 1Malaysia Development Berhad, or 1MDB as it is known, two former fund managers from Abu Dhabi sovereign funds and two representatives of Saudi energy group Petrosaudi....
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