Switzerland says Najib not a target in 1MDB probe

KUALA LUMPUR: A Swiss probe into bribery and fraud centred on Malaysian state fund 1MDB is investigating six people, but former prime minister Najib Razak is not one of them, the country's attorney general said yesterday, reports AFP.

The banking haven is looking into claims its financial system was used to launder money siphoned off from the multi-billion dollar fund, which investigators say was raided to buy everything from US real estate to artworks.

A total of $4.5 billion was misappropriated by high-level officials of 1MDB and their associates, according to civil lawsuits filed by the US Department of Justice.

Najib, who set up 1MDB in 2009 and served as chairman of its advisory board, was charged in Malaysia last week with corruption linked to the scandal.

 

Switzerland says Najib not a target in 1MDB probe

KUALA LUMPUR: A Swiss probe into bribery and fraud centred on Malaysian state fund 1MDB is investigating six people, but former prime minister Najib Razak is not one of them, the countrys attorney general said yesterday, reports AFP. The banking haven is looking into claims its financial system was used to launder money siphoned off from the multi-billion dollar fund, which investigators say was raided to buy everything from US real estate to artworks. A total of $4.5 billion was misappropriated by high-level officials of 1MDB and their associates, according to civil lawsuits filed by the US Department of Justice. Najib, who set up 1MDB in 2009 and served as chairman of its advisory board, was charged in Malaysia last week with corruption linked to the scandal.