
In a brief statement, 1MDB however pledged it would cooperate with any foreign authority, based on the advice of the relevant agencies in Malaysia.
“1MDB confirms that its ownership of various fund investments has not been impacted by the announcements today.”
Earlier today, Reuters reported that Switzerland’s Office of the Attorney General (OAG) has opened criminal proceedings against Swiss bank BSI in connection with 1MDB.
In a statement, the OAG said it suspected deficiencies in the internal organisation of the BSI SA bank.
The OAG added that due to these deficiencies, the bank was unable to prevent the commission of offences currently under investigation in the criminal proceedings relating to 1MDB.
Swiss authorities also ordered the seizure of 95 million Swiss francs (USD96 million) of BSI’s “illegally-generated” profits.
Singapore subsequently ordered BSI’s operations in the city-state to close, with the Monetary Authority of Singapore (MAS) withdrawing the BSI Bank’s status as a merchant bank in the republic for serious breaches of anti-money laundering rules.