Economics
Swiss 1MDB Case Widens With Probe of Petrosaudi Officials
- Complaint filed by former Petrosaudi executive being analyzed
- Over $3 billion allegedly diverted from 1MDB with outside help
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Swiss prosecutors widened their probe into allegations of corruption at Malaysian development fund 1MDB, opening criminal proceedings to look into two officials of Saudi Arabian oil producer PetroSaudi who were allegedly tied to the affair.
The investigation into the pair on suspicion of criminal mismanagement, fraud, bribery and aggravated money laundering began in November 2017 but “certain measures taken against the two officials and a risk of collusion” prevented the Swiss Attorney General’s office from disclosing the news, it said Tuesday in an email. The probe into the Petrosaudi International Ltd. employees was reported earlier by the Financial Times.