Swiss widen corruption investigation into Malaysia's 1MDB fund
Switzerland has widened its corruption probe into a Malaysian state-owned fund linked to prime minister Najib Razak, with two new suspects indicted over an alleged phony bond deal.
The Swiss attorney general’s office (OAG) said the new suspects – who are accused of fraud, bribery and other offences – are officials from the United Arab Emirates who were in charge of sovereign funds based in Abu Dhabi.
In a statement, the OAG said it had evidence that the management of the 1MDB fund violated Swiss embezzlement laws through a fraudulent bond agreement with the UAE officials, with money routed through Swiss banks.
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Swiss authorities provided no details on the film industry allegations, but The Wall Street Journal has reported that some of the money used to make Hollywood hit The Wolf of Wall Street, a movie about financial corruption starring Leonardo DiCaprio, was laundered from 1MDB.
Switzerland has widened its corruption probe into a Malaysian state-owned fund linked to prime minister Najib Razak, with two new suspects indicted over an alleged phony bond deal.
The Swiss attorney general’s office (OAG) said the new suspects – who are accused of fraud, bribery and other offences – are officials from the United Arab Emirates who were in charge of sovereign funds based in Abu Dhabi.
In a statement, the OAG said it had evidence that the management of the 1MDB fund violated Swiss embezzlement laws through a fraudulent bond agreement with the UAE officials, with money routed through Swiss banks.
...
Swiss authorities provided no details on the film industry allegations, but The Wall Street Journal has reported that some of the money used to make Hollywood hit The Wolf of Wall Street, a movie about financial corruption starring Leonardo DiCaprio, was laundered from 1MDB.