Swiss Court Convicts PetroSaudi Execs in $1.8 Billion 1MDB Fraud Case

Aug 28, 2024, 01:07 PM

A Swiss court has convicted two executives from PetroSaudi International for their involvement in embezzling $1.8 billion from Malaysia's 1MDB fund. The executives received sentences of seven and six years, respectively. This case is part of a broader international scandal involving financial fraud and money laundering. The Swiss Federal Criminal Court announced the verdict, highlighting the significant role these individuals played in the fraudulent scheme.