Swiss AG probes 6 persons for offences related to 1MDB
1MDB

OAG investigating nancing earmarked for investment in PetroSaudi, Tanjong, Genting Group and Admic projects, and an SRC International investment project

by NUR HAZIQAH A MALEK / pic by MUHD AMIN NAHARUL

Switzerland is investigating six people on suspicion of bribery of foreign public officials, money laundering and other offences, as part of its probe into 1Malaysia Development Bhd (1MDB), said the Office of the Attorney General of Switzerland (OAG).

“The six individuals are two former officials at 1MDB, two former officials from the United Arab Emirates (UAE) who had been in charge of Abu Dhabi sovereign funds and two of the PetroSaudi Group,” the OAG said in a statement.

The Swiss authority also said former Malaysian Prime Minister Datuk Seri Mohd Najib Razak is not one of the public officials under accusation.

“At this stage of the proceedings, six persons are under investigation and two banks are suspected of involvement,” it added.

The statement was issued following Swiss AG Micheal Lauber and the Swiss delegation’s meeting with Malaysian counterpart Tommy Thomas and team during an official working visit yesterday.

It added that after the latest developments in Malaysia, such as the change in power, the OAG is interested in renewing dialogue with authorities in Malaysia.

“Given the international dimension of the case, numerous requests for mutual legal assistance have been sent, most notably to Malaysia, the US, Luxembourg and Singapore.

“Switzerland has itself received requests for mutual legal assistance from a number of foreign states,” it said.

The proceedings against two former officials at 1MDB and against persons unknown on suspicion of bribery, misconduct, money laundering and

criminal mismanagement were opened by the Swiss OAG on August 2015.

The investigation was later extended in April 2016 to include the former officials from UAE, followed by the former PetroSaudi International SA officials in November last year.

The Swiss OAG said it is investigating the use of financing obtained by the Malaysian sovereign funds 1MDB and SRC International Sdn Bhd.

“The financing was earmarked for investment in economic development projects, in particular, the PetroSaudi International, Tanjong plc, Genting Group and Admic projects, as well as in an SRC International investment project involving natural resources.

“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,” it said.

On the seized assets, the OAG is unable to provide details of the figures currently involved.