Swiss indict 2 managers of Saudi oil company in 1MDB scandal

By JAMEY KEATEN and FRANK JORDANS
Associated Press

GENEVA (AP) — Swiss prosecutors say they have indicted two managers of a Saudi oil exploration company as part of a yearslong international investigation of a Malaysian sovereign wealth fund. The office of Switzerland’s attorney general said Tuesday that the PetroSaudi managers were accused of trying to enrich themselves and others by misappropriating at least $1.8 billion transferred to the 1Malaysia Development Berhad fund. Swiss officials didn’t name the pair. The indictments are the first of their kind in Switzerland, where some financial institutions were ensnared in the far-reaching scandal involving the state-owned investment fund known as 1MDB. Malaysian investigators allege that more than $4.5 billion was stolen and laundered by associates of former Prime Minister Najib Razak.