The scandal concerning Malaysia’s state development fund 1MDB continues to percolate across the globe. While the Malaysian investigation of the massive fraud and theft involving 1MDB has largely gone quiet, barely causing a burp in the country’s election campaigns, other countries are still probing the matter.
A new player to emerge is Switzerland. The country’s prosecutors have initiated a criminal probe into officials of Saudi Arabian energy concern PetroSaudi, a company that is also the focus of a U.S. regulatory investigation regarding a joint venture with 1MDB. According to reports, the partnership was purloined by a Malaysian businessman, Jho Low, who is said to be close to the current Prime Minister.
