Swiss Widen 1MDB Probe, Enlisting Help of Luxembourg, Singapore
- Two former UAE officials investigated on bribery charges
- Accusations hinge on bond sales tied to Abu Dhabi fund
Two Former UAE Officials Investigated in 1MDB Probe
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Swiss prosecutors widened their criminal probe into allegations of bribery and corruption at 1Malaysia Development Bhd., and have asked Luxembourg and Singapore authorities for help with an investigation into the government fund.
The Swiss Attorney General is investigating two former public officials from the United Arab Emirates on charges of fraud, criminal mismanagement, bribery and money laundering, according to a statement Tuesday from the Bern-based prosecutor’s office. The pair handled Abu Dhabi sovereign wealth funds that guaranteed bonds issued to finance 1MDB’s investment in power plants, Swiss authorities said.