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Two PetroSaudi managers on trial in Switzerland over 1MDB scandal

GENEVA (AP): Two former managers of PetroSaudi, a Saudi oil exploration company, went on trial in Switzerland on Tuesday (April 2) for alleged fraud and money laundering over a scandal years ago linked to 1Malaysia Development Berhad (1MDB) that the US Justice Department once described as the "biggest kleptocracy case" ever.

Argentina , United-kingdom , Bellinzona , Ticino , Switzerland , Malaysia , Turkmenistan , United-states , Saudi-arabia , Geneva , Genè , Hollywood

PetroSaudi pair indicted in Switzerland over 1MDB scandal - World

GENEVA: Two PetroSaudi managers have been indicted in Switzerland on suspicion of embezzling and laundering nearly ...

Bern , Switzerland , Geneva , Genè , Saudi-arabia , Malaysia , London , City-of , United-kingdom , Swiss , Malaysian , Saudi

Najib asked me to leave after I suggested Jho Low be investigated, says Edge Media Group chairman

KUALA LUMPUR: The Edge Media Group chairman was asked to leave the residence of former prime minister Datuk Seri Najib Razak after the media magnate suggested that fugitive businessman Low Taek Jho, or Jho Low, should be investigated and charged for stealing US$700mil from 1Malaysia Development Bhd (1MDB), the High Court heard.

Saudi-arabia , Kuala-lumpur , Malaysia , Singapore , Kingdom-of-saudi-arabia , Sri-ram , Najib-razak , Justice-collin-lawrence-sequerah , Taek-jho , Xavier-andre-justo , Langgak-duta , Paul-stadlen

Hearing on govt's bid to stop PetroSaudi from using funds linked to 1MDB postponed to Nov 23

KUALA LUMPUR: The hearing of the government’s application to block PetroSaudi International Ltd (PSI), its subsidiary PetroSaudi Oil Services (Venezuela) Limited (PSOS-VZ) and Saudi national Tarek Obaid, from using over US$340mil (RM1.55bil) linked to 1Malaysia Development Berhad (1MDB) which was kept in a client’s account at a United Kingdom law firm, has been postponed to Nov 23.

Saudi-arabia , Kuala-lumpur , Malaysia , United-kingdom , Saudi , Justice-ahmad-shahrir , Tarek-obaid , Norinna-bahadun , Petrosaudi-international-ltd , Petrosaudi-oil-services-venezuela-limited , Barclays-bank , Temple-fiduciary-services-limited-in-clyde-co

No 1MDB funds used in PSI oil exploration project, says lawyer

KUALA LUMPUR: The High Court was told that no funds from 1Malaysia Development Berhad (1MDB) were used in an oil exploration project between Petrosaudi International Ltd (PSI) with the Venezuelan government, and that none of it ever flowed into the escrow account held by United Kingdom law firm, Clyde & Co LLP.

Kuala-lumpur , Malaysia , United-states , United-kingdom , Singapore , Venezuela , Venezuelan , Justice-ahmad-shahrir , Mohd-yusof , Tarek-obaid , Shahrol-azral , Petrosaudi-oil-services-venezuela-ltd

Petrosaudi project in Venezuela impossible without 1MDB funds, court hears

KUALA LUMPUR: The High Court here was told that it was not possible for Petrosaudi Oil Services (Venezuela) Limited (PSOS-VZ) to pursue an oil exploration project with the Venezuelan government without the transfer authorisation of US$185mil from 1Malaysia Development Berhad (1MDB) funds by its parent company, Petrosaudi International Ltd (PSI).

Kuala-lumpur , Malaysia , United-kingdom , Turkmenistan , Argentina , Venezuela , Venezuelan , Justice-ahmad-shahrir , Tarek-obaid , Norinna-bahadun , Petrosaudi-oil-services-venezuela-limited , Petrosaudi-international-ltd

'Unnamed' account received millions from 1MDB, High Court heard

KUALA LUMPUR: The High Court was told that 1Malaysia Development Bhd (1MDB) had instructed for AmBank to remove oil and gas company PetroSaudi International Ltd (PSI) as the recipient of two transactions amounting to US$95mil (RM289.8mil) in 2011.

Kuala-lumpur , Malaysia , Najib-razak , Justice-collin-lawrence-sequerah , Taek-jho , Mohamad-mustafap-kunyalam , Petrosaudi-international-ltd , Deutsche-bankm-bhd , Good-star-ltd , Coutts-bank-ltd , Preventive-crime-research , Malaysia-development-bhd

Najib: None of my children were offered jobs at Goldman Sachs

PETALING JAYA: None of Datuk Seri Najib Razak's children have ever worked or been offered jobs at Goldman Sachs, says the former premier.

Malaysia , Hong-kong , Petaling , Malaysia-general- , Najib-razak , Lloyd-blankfein , South-east-asia , Tim-leissner , Bank-negara , Goldman-sachs-group-inc , Malaysia-development-bhd , Goldman-sachs

Tarek Obaid had control when US$120mil in 1MDB funds transferred into escrow account, court hears

KUALA LUMPUR: The High Court was told that Petrosaudi International Ltd (PSI) director Tarek Obaid had absolute control over the company's accounts and have purportedly caused some US$120mil from 1Malaysia Development Berhad (1MDB) and PSI joint venture company to be transferred into an escrow account.

Kuala-lumpur , Malaysia , United-kingdom , Justice-ahmad-shahrir , Tarek-obaid , Budiman-lutfi-mohamed , Petrosaudi-international-ltd , Petrosaudi-oil-services-venezuela-ltd , Barclays-bank , Clyde-co , Malaysia-development-berhad , Temple-fiduciary-services

1MDB gets permission to serve writ of summons to six parties overseas

KUALA LUMPUR (Bernama): 1Malaysia Development Berhad (1MDB) has obtained permission from the High Court here to serve its writ of summons against six parties, including two overseas banking firms.

Saudi-arabia , Kuala-lumpur , Malaysia , United-kingdom , Switzerland , British , Patrick-mahony , Tarik-obaid , Messrs-rosli-dahlan-saravana-partnership , Jp-morgan-switzerland-ltd , Malaysia-development-berhad , Petrosaudi-holdings-cayman