A spokesman said the board had actively supported Swiss prosecutors throughout the investigation and trial, including filing criminal complaints and providing evidence to ensure the recovery of assets to Malaysia.

“We thank the Swiss authorities for their thorough investigation, which has secured this conviction,” the spokesman said in a statement last night.

“In particular, we welcome the order for forfeiture and restitution of monies and assets. This significant recovery has been achieved as part of our multi-disciplinary recovery strategy to support and supplement the ongoing criminal forfeiture.”

The spokesman also affirmed that the board would continue to pursue global enforcement action against those involved in the fraudulent misappropriation of Malaysian state funds.

“Today’s judgment is a further step towards recovering the harm done to the people of Malaysia.

“We will continue to pursue those responsible for the looting of 1MDB and recover our nation’s rightful assets, wherever they may be.”

Yesterday, the Swiss federal criminal court convicted Swiss-British businessman Patrick Mahony and Saudi-Swiss businessman Tarek Obaid of embezzling over US$1.8 billion from 1MDB.

Prosecutors alleged that Mahony and Obaid helped to set up a joint venture with 1MDB by falsely presenting their company, PetroSaudi, as being backed by the Saudi government.

Obaid was sentenced to seven years in prison, while Mahony received a six-year sentence.

The court also ordered the confiscation and restitution of their assets, including real estate and funds held in various bank accounts, amounting to more than US$240 million.

These assets will be returned to 1MDB as part of Malaysia’s ongoing efforts to recover the funds lost in the scandal.

The verdict was the latest episode in the 1MDB scandal, a complex tale of international corruption that has buffeted a slew of financial institutions and individuals across the globe since allegations of wrongdoing first surfaced in 2015.