Swiss say $4 billion misappropriated from Malaysian state firms

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By Mark Hosenball and A. Ananthalakshmi WASHINGTON/KUALA LUMPUR (Reuters) - Switzerland's chief prosecutor said on Friday a criminal investigation into state fund 1Malaysia Development Berhad (1MDB) had revealed that about $4 billion appeared to have been misappropriated from Malaysian state companies. The office of Swiss Attorney General Michael Lauber said it had formally asked Malaysia to help with its probes into possible violations of Swiss laws related to bribery of foreign officials, misconduct in public office, money laundering and criminal mismanagement at the fund. 1MDB, whose advisory board is chaired by Malaysian Prime Minister Najib Razak, has been probed by Malaysian authorities following accusations of financial mismanagement and graft.




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