Prosecutors in Switzerland are expanding their investigation into claims of fraud at the under fire Malaysian state fund 1MDB. The fund is not amused.
The latest development into the long running misappropriation of funds centers on two officials of PetroSaudi, the Saudi Arabian oil producer and a $700 million transfer of funds. The accusations against the pair who are allegedly tied to the 1MDB scandal, involve suspicion of criminal mismanagement, fraud, bribery and aggravated money laundering, according to a «Bloomberg» report.
Malaysia’s scandal-hit fund said it had not received any request from the Swiss authorities. The fund claimed it wasn't the subject of any criminal investigation either in Malaysia or internationally, according to a statement in Malaysia’s «New Straits Times».
