The Switzerland attorney-general’s office says it discovered four cases of criminal conduct between 2009 and 2013 Authorities in Switzerland investigating 1Malaysia Development Berhad (1MDB) have discovered some US$4 billion (RM16.8 billion) misappropriated from Malaysian state companies, with some of the money transferred to Swiss banks by public officials from Malaysia and the United Arab Emirates, The Wall Street Journal reports today.
The Swiss attorney-general’s office said it discovered four cases of criminal conduct between 2009 and 2013 "using complex financial structures".
“The sum suspected to have been misappropriated amounts to around US$4 billion,” the daily quoted the Swiss attorney-general’s office as saying.
“Its intended purpose is the subject of further investigations.”
Swiss attorney-general (A-G) Michael Lauber also expressed concern over his Malaysian counterpart's decision to stop investigations into the transfer of US$681 million into Prime Minister Datuk Seri Najib Razak’s private bank accounts, saying the move could hamper Switzerland’s own probe into the troubled state-owned investment firm.
“We are very concerned,” WSJ quoted Lauber as saying.
“We have found evidence of suspicious money transfers linked to 1MDB going through Swiss financial institutions, and we believe that it is very important that it is shared with the Malaysian authorities.”
A-G Tan Sri Mohamed Apandi Ali on Tuesday said there was “insufficient evidence” to charge Najib for accepting US$681 million, which was said to be a personal donation from the Saudi royal family.
"Based on facts and evidence, no criminal offences have been committed by the PM in relation to three investigation papers," Apandi said following months of investigation by the Malaysian Anti-Corruption Commission (MACC).
"I hereby order MACC to close the investigation papers."
WSJ also quoted a spokesman for the Swiss A-G as saying that the investigation should not be closed as there was "a sizeable fraud taking place".
"Without assistance from Malaysia, our investigation in Switzerland risks running into a dead-end," he told the daily. – January 30, 2016.
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