SWISS COURT ORDERS TWO TO REPAY 1MDB USD1.8 BILLION WITH INTEREST
September 23rd, 2024
A landmark ruling in a Swiss court has clawed back the more than USD1.8 billion two dual nationals defrauded from the fraud and graft-wracked Malaysian investment fund, 1 Malaysia Development Berhad (1MDB).
The Swiss Federal Criminal Court, in Bellinzona, southern Switzerland, August 28 convicted two former PetroSaudi executives over their role in embezzling money from 1MDB for over six years starting in 2009. The Bellinzona court ruled that Saudi-Swiss national Tarek Obaid and British-Swiss colleague Patrick Mahony had worked with Jho Low, who was an adviser ...
Full access to this article can be arranged with permission from the client that first ordered it. Please contact us to request access. Entries are uploaded to our archive at least one year after being published by a client – free access is restricted to International News Services journalists for background research only. The article date indicates when copy was filed to a client, not when posted to this archive. Upon client requests, International News Services will remove such articles from the archive or not upload them in the first place. They are included to demonstrate the breadth of topics undertaken by the agency and also to help promote clients’ coverage.