Swiss criminal trial verdict on 1MDB scandal accused expected next week

The director of Petrosaudi and his right-hand man will have their fate decided on August 28 when the Swiss Federal Criminal Court will deliver its verdict in the 1MDB case. The two men are accused of embezzling $1.8 billion from Malaysia's sovereign wealth fund and have pleaded acquittal. The Office of the Swiss Attorney General upheld the charges of fraud, disloyal management and aggravated money laundering. It requested 10-year prison sentences for the director of the Geneva-based company, a dual Swiss-Saudi national, and nine years for his deputy, a Swiss-British national. + Get the most important news from Switzerland in your inbox During the deliberations, which lasted three weeks in April, two diametrically opposed interpretations of the facts clashed. Federal prosecutor Alice de Chambrier argued that the two men had used numerous tricks to deceive the directors of 1MDB. Sophisticated financial arrangements The defendants made it appear that Petrosaudi had rights to gigantic ...