Board of Directors of 1MDB welcomes verdict against fraudster
Published: Wednesday, Aug 28th 2024, 16:20
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The Board of Directors of the Malaysian sovereign wealth fund 1MDB has welcomed the verdict handed down on Wednesday by the Federal Criminal Court in Bellinzona in connection with the misappropriation of its funds. "We commend the Swiss authorities for their work that led to these convictions," a spokesperson for 1MDB was quoted as saying in a statement issued by the Swiss representation of the plaintiffs.
Throughout the process, 1MDB has supported the Swiss Attorney General's Office as a defendant to ensure the return of assets to Malaysia, it added.
This included filing criminal charges on behalf of 1MDB, assisting in the investigation, participating in the trial, providing testimony and cross-examination, and ultimately securing the return of the frozen assets to Malaysia.
In particular, the order for the forfeiture and restitution of funds and assets was welcomed. This substantial restitution was achieved as part of a multidisciplinary restitution strategy that supports and complements the ongoing criminal confiscations.
Enforcement action continues to be taken against the parties involved in the fraudulent misappropriation of Malaysian government funds around the world, 1MDB added. Today's judgment is a further step towards redressing the damage caused to the Malaysian people.
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