Swiss court convicts Petrosaudi duo over 1MDB fraud
This article is 21 days old
The Swiss Federal Criminal Court has convicted Petrosaudi International Ltd executives Tarek Obaid and Patrick Mahony for their roles in embezzling Malaysia’s state investment fund 1MDB.
They were accused of creating the false impression that the Saudi government backed their company, in their bid to convince 1MDB’s board to set up a joint venture with their company in 2009.
They then proceeded to…
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