Swiss court convicts executives over $1.8 billion 1MDB scandal ...Middle East

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Swiss court convicts executives over $1.8 billion 1MDB scandal
BELLINZONA: The Swiss Federal Criminal Court on Wednesday convicted two executives at an oil exploration company accused of embezzling over $1.8 billion from Malaysia’s state investment fund 1MDB.The verdict was the latest episode in the 1MDB scandal, a complex tale of international corruption that has buffeted a slew of financial institutions and individuals across the globe since allegations of wrongdoing first surfaced in 2015.Prosecutors alleged that Swiss-British national Patrick Mahony and Swiss-Saudi Tarek Obaid, helped to set up a joint venture with 1MDB by creating the impression that their company, PetroSaudi, was backed by the Saudi government.This was not, in fact, the case, but

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