SWISS FREEZE MILLIONS IN BANK ACCOUNTS LINKED TO 1MDB

Swiss authorities said today they had frozen funds in Swiss banks amid a probe into people linked to Malaysia's troubled state investment fund, 1Malaysia Development Berhad (1MDB), on suspicion of corruption and money laundering.

"The Office of the Attorney-General of Switzerland (OAG) has frozen assets amounting to several tens of millions of US dollars on Swiss bank accounts," an OAG spokesman said by email in response to an enquiry.

"At this early stage of the procedure, the OAG is analysing and consolidating evidence. The OAG is already in contact with the Malaysian authorities. 
International cooperation with foreign countries, in particular with Malaysia, will probably be necessary to establish the facts," she said.

1MDB later released a satement saying "as far as 1MDB is aware, none of the company's bank accounts has been frozen".

• It added that 1MDB was in the process of developing a better understanding of the ongoing investigations in Switzerland so the company could cooperate to its fullest extent.

Source:– Reuters