The Swiss AG’s Annual Report is available at the website of the Office of the AG, Switzerland. There is an English version. You can read the English version of the full report here.
Here is an excerpt :
Here is that part of the Swiss AG’s Annual Report 2016 which talks about 1MDB.
3.8 1MDB criminal investigation
On the basis of the finding that the Swiss financial services hub was affected by the financial scandal of which the Malaysian sovereign fund 1 MALAYSIA DEVELOPMENT
BERHAD (1MDB) is supposed to have fallen victim, the OAG instigated an investigation in August 2015.
Within the framework of improper financial operations, several billion USD is said to have been embezzled at the expense of that fund, with the operations branching
out into Singapore, Luxembourg, the US and Switzerland.
This case has caused great furore in the media due to the scope of the fraud, the involvement of certain banks (suspicion of breach of obligations in the area of combating money laundering) and the likely involvement of executives of 1MDB and the sovereign wealth fund of Abu Dhabi in the misappropriation of the funds.
The Swiss investigation, which was instigated on the suspicion of fraud, bribery and money laundering, is directed against Malaysian officials and officials of the United Arab Emirates, who each held several bank accounts in Switzerland to which funds from acriminal origin allegedly flowed.
Since 2015, the MROS has reported about one hundred suspicious accounts to the OAG in connection with this international case of fraud. The OAG has frozen several tens of millions of USD as part of a seizure.
At the international level, the OAG has noted the refusal of Malaysia to execute its request for legal assistance, whose aim was to clarify the facts and collect evidence in Malaysia.
However, the OAG is investigating in close co-operation with the authorities of other countries that are affected by this case and welcomes the effectiveness and speed of this co-operation. (Malulah Malaysia)
As regards the financial intermediaries affected by this scandal, the OAG instigated on the basis of Article 102 para. 2 Swiss Criminal Code (responsibility of the company) separate investigations into two Swiss banks. They are being suspected of failing to take all necessary and reasonable organisational precautions to prevent the commission of acts of money laundering within the bank.
Both banks have been fined by FINMA. In particular, FINMA ordered the seizure of the profits, which had been generated in violation of the anti-money laundering regulations. The corresponding orders were contested, and the Federal Administrative Court will have to rule on this.
My comments : The fat lady has not sung yet.