Switzerland Investigates Six People in 1MDB Money Laundering Probe

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Switzerland is investigating six people on suspicion of money laundering, bribing foreign officials and other offences as part of an investigation into Malaysian state fund 1MDB, the Swiss attorney general’s office said on Tuesday.

Swiss authorities suspect funds raised for economic development projects by 1MDB and a former unit, SRC International, were stolen, the statement said.

“All or part of the financing obtained is alleged to have been used for other purposes, most particularly for the personal enrichment of the persons involved,” the statement from Attorney General Michael Lauber’s office said.

1Malaysia Development Berhad, or 1MDB as it is known, is at the center of money laundering investigations in at least six countries, including Switzerland, Malaysia and the United States.

Read the original article here: reuters.com


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