Swiss request further assistance over stolen US$800 mil in 1MDB probe

SINGAPORE (Oct 5): The Office of the Attorney General of Switzerland has requested for mutual legal assistance from Malaysia after it identified that US$800 million ($1.1 billion) worth of funds were misappropriated from the SRC sovereign fund’s investments in natural resources.

This is the second time the OAG has requested for assistance from Malaysian authorities and comes as a part of the criminal proceedings that were opened last August over 1Malaysia Development Berhad (1MDB).

The OAG also added that a Ponzi scheme fraud had been committed to conceal the misappropriations from the SRC and from 1MDB. Those misappropriations were the subject of the first request for assistance in January which remains “pending”.

---

Related Stories

• Can SGX afford to wait up to a year for reforms?
• Key issues Khazanah-led consortium will have to fix at MAHB post-privatisation
• Institutions to edge further into digital finance, focus on risk mitigation: Moody’s Ratings

---