1MDB used as Ponzi scheme to bribe officials, says Swiss A-G

  • Jul 12, 2018

Malaysia's economic development fund 1Malaysia Development Berhad (1MDB) was used as a Ponzi scheme by a clutch of conspirators to pay bribes and enrich themselves, Switzerland's top prosecutor has said.

The Swiss authorities are investigating six people for their alleged involvement in the multi-billion dollar 1MDB scandal and two Swiss banks - Falcon Private Bank and BSI SA - remain under suspicion, Swiss Attorney-General Michael Lauber told reporters yesterday in Putrajaya following a meeting with his Malaysian counterpart Tommy Thomas.

READ THE ARTICLE by straitstimes

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