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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal

Swiss investigators seek Malaysia’s help in 1MDB probe

Posted on 06 October 2016

Switzerland’s Office of the Attorney General, looking into allegations that a Malaysian state investment fund was involved in money laundering, said Wednesday it has determined that a Ponzi scheme was used to misappropriate $800 million from the fund and requested further information from authorities in Malaysia.
As part of the Swiss criminal investigation into 1Malaysia Developer Berhad that began in August 2015, the Attorney General’s office said it had uncovered a “Ponzi scheme fraud” that it said was used to launder $800 million belonging to SRC International, a former 1MDB subsidiary………………………………….Full Article: Source


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