Lengthy jail terms sought in Swiss US$1.8bil 1MDB fraud case


Geneva (AFP): Lawyers for two men accused of embezzling US$1.8bil (RM8.61bil) from the Malaysian sovereign wealth fund 1MDB began laying out their case Thursday (April 18) after Swiss state prosecutors sought hefty jail terms.

PetroSaudi chief executive Tarek Obaid, and Patrick Mahony, a director at the Saudi oil exploration and production company, are on trial at Switzerland's Federal Criminal Court in the southern city of Bellinzona.

Play, subscribe and stand a chance to win prizes worth over RM39,000! T&C applies.

Monthly Plan

RM 13.90/month

RM 11.12/month

Billed as RM 11.12 for the 1st month, RM 13.90 thereafter.

Best Value

Annual Plan

RM 12.33/month

RM 9.87/month

Billed as RM 118.40 for the 1st year, RM 148 thereafter.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!
1mdb , fraud , Swiss , PetroSaudi , Tarek Obaid , Patrick Mahony

Next In Nation

Foreign woman detained over discovery of man’s body in Klang
Global Sumud Flotilla expands as vessels converge in Siracusa
Malaysia emerges as global model in disaster management, says Ahmad Zahid
Senior citizen suffers burns in Kuala Selangor house fire
Appeals Court reinstates armed robber’s 17-year jail term
Take sterner action to ensure PERKESO deductions for gig workers, says coalition
Successful cloud seeding operations bring rain to Melaka, Johor
MACC personnel now must declare NGO involvement, says Azam Baki
Man held over father's death in Kota Baru is schizophrenic, say cops
Malaysian university enters top 40 in Asia for the first time

Others Also Read