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Swiss court convicts 2 top PetroSaudi executives in fallout from 1MDB Malaysian fund scandal

  • A Swiss court convicted two executives from PetroSaudi of fraud and money laundering, linked to the 1 Malaysia Development Berhad fund scandal involving at least $1.8 billion.
  • Obaid received a seven-year sentence and must pay $2 billion plus interest, while Mahony received six years, for defrauding the sovereign wealth fund.
  • The scheme involved Malaysian financier Low Taek Jho, who remains a fugitive, and the accused are accused of enriching themselves by over $800 million.
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