The Swiss Attorney General’s Office (OAG) has filed charges against two executives of Petrosaudi, accusing them of assisting in the embezzlement of US$1.8 billion from 1MDB. The charges relate to the transfer of US$1 billion in 2009 and another US$830 million between 2010 and 2011.
Petrosaudi executives charged
The OAG alleges that the accused conspired with fugitive businessman Low Taek Jho to establish a joint venture company for a fictitious project in Turkmenistan, which defrauded 1MDB. The accused are alleged to have received funds used for acquiring properties, luxury items, private equity, and supporting Petrosaudi’s activities.
The OAG has decided not to pursue additional charges based on whistleblower complaints, but this decision can be appealed. Last year, the accused’s name emerged in the trial of former Prime Minister Najib Razak, who faces charges related to corruption and money laundering involving 1MDB funds.
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