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1MDB funds siphoned off under 'Ponzi' scheme

Swiss regulator gives update on its ongoing probe into Malaysia-govt-owned strategic investment company

Anita Gabriel

Anita Gabriel

Published Wed, Oct 5, 2016 · 09:50 PM
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Singapore

MORE than a year and a half ago Malaysian opposition lawmaker Tony Pua described Malaysia's troubled 1Malaysia Development Bhd (1MDB) as a "Ponzi" scheme. He was roundly dismissed by some as a fierce critic of the state-backed firm going on a rant.

But on Wednesday, validation came from an unlikely place - Switzerland.

The European country's Office of the Attorney-General (OAG) said its probe into 1MDB's money trail …

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