“On analysing the evidence obtained, the OAG identified further suspect transactions involving the Swiss financial sector,” the OAG said in a statement on Wednesday.
“Firstly, the sum of $800 million appears to have been misappropriated from investments in natural resources made by the SRC sovereign fund. Secondly, it is suspected that a ‘Ponzi’ scheme fraud… was committed to conceal the misappropriations from both the SRC fund and from 1MDB.”
At this stage of its criminal proceedings in connection with 1MDB and SRC International, a former 1MDB subsidiary, four people and one bank are under investigation, the OAG said.