Jail terms sought for accused in US$1.8 billion 1MDB fund fraud

Jail terms sought for accused in US$1.8 billion 1MDB fund fraud

Additionally, the two’s incarceration was requested by the prosecution because the two were perceived as a threat of escaping in the time between the trial and the ruling.

Obaid is a Swiss-Saudi two national, while Mahony is Swiss-British.

Obaid’s prosecutor Daniel Zappelli highlighted the presence of Najib and Low, and said there were variations in the portions that the accused allegedly laundered, Keystone-ATS reported.

The multibillion-dollar 1MDB economic incident has led to criminal studies around the world, including in the United States, Switzerland and Singapore.

It is claimed that a number of people used billions of dollars to steal from the account, which is known as 1Malaysia Development Berhad, and used to purchase everything from artwork to a superyacht.