GENEVA (AP): Two former managers of PetroSaudi, a Saudi oil exploration company, went on trial in Switzerland on Tuesday (April 2) for alleged fraud and money laundering over a scandal years ago linked to 1Malaysia Development Berhad (1MDB) that the US Justice Department once described as the "biggest kleptocracy case" ever.
The defendants from PetroSaudi – a Swiss Saudi citizen and a Swiss British national who were not identified by name for privacy reasons – are accused of having created a scheme in 2009 under which 1MDB would set up a joint venture based on false premises.
