Swiss launch criminal inquiry related to Malaysia’s 1MDB - FT.com:
"Attempts by Najib Razak, Malaysia’s embattled prime minister, to contain a financial scandal have taken a knock after Swiss authorities said they had opened criminal proceedings related to the state development fund at the centre of the affair.
Switzerland’s Office of the Attorney-general said its case involved “suspected corruption of public foreign officials, dishonest management of public interests and money laundering”.
Its confirmation of proceedings involving 1Malaysia Development Berhad, or 1MDB, which has $11bn in debt, marks the potential internationalisation of a case that has so far received mainly domestic scrutiny. The fund, established in 2009 by Malaysia’s finance ministry, is supervised by an advisory board chaired by the prime minister."
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