1MDB affair: two PETROSAUDI managers indicted in the Federal Criminal Court
Bern, 25.4.2023 - The Office of the Attorney General of Switzerland (OAG) has filed an indictment against two PETROSAUDI managers. The two accused are alleged, with the aim of enriching themselves and others, to have misappropriated at least USD 1.8 billion transferred by the Malaysian sovereign wealth fund 1MALAYSIA DEVELOPMENT BERHAD (1MDB) in connection with a joint-venture with PETROSAUDI, an operation subsequently converted into an Islamic loan, and then to have laundered the amounts involved. The allegations cover a period at least from 2009 to 2015 and constitute the offences of fraud on a commercial basis (Art. 146 para. 1 and 2 of the Swiss Criminal Code [SCC]), aggravated criminal mismanagement (Art. 158 no 1 para. 3 SCC), and aggravated money laundering (Art. 305bis nos 1 and 2 SCC).