Banker faces trial over 1MDB Malaysia fraud


A former London banker faces trial at Switzerland’s Federal Criminal Court this week on charges of aggravated money laundering, fraud, corruption and forgery connected to the global 1MDB corruption scandal around Malaysia’s sovereign wealth fund.

Patrick Mahony is alleged to have made at least $37 million from the alleged laundering, which involved Geneva–based PetroSaudi International, where he was chief investment officer.

Mahony had worked for Goldman Sachs in Hong Kong and fund manager Ashmore International in London, before joining PetroSaudi in 2009. He was introduced to other members of an alleged criminal gang on September 7, 2009, in New York, according to the indictment.

Tarek Obaid, a Saudi, was a friend of Prince Turki, the son of the former King Abdullah, and Jho Low, a



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