July 20, 2016 / 4:35 PM / 3 years ago

Swiss prosecutors help American authorities in 1MDB corruption probe

ZURICH, July 20 (Reuters) - Swiss prosecutors on Wednesday said they were helping their counterparts in the United States in an investigation into cash allegedly stolen from the Malaysian state investment fund 1MDB.

The Swiss Office of the Attorney General (OAG) gave the update after the U.S. Department of Justice said it had filed civil lawsuits to seize assets worth more than $1 billion, allegedly stolen from the fund, which was overseen by Prime Minister Najib Razak.

Najib has consistently denied any wrongdoing.

The Swiss OAG on Wednesday said it took note of the announcement by U.S. Attorney General Loretta Lynch earlier on Wednesday about an “international conspiracy to launder funds misappropriated from 1MDB.”

“The OAG confirms that a U.S. mutual legal assistance request is being currently executed,” the OAG said in a statement.

“In the frame of its current criminal proceeding, the OAG has also sent mutual legal assistance requests to different countries, including the USA,” it added.

The Swiss opened their own criminal proceedings in August 2015 against two formal officials of the fund on a string of corruption charges. Their investigation has since been extended to other officials and the BSI bank.

Reporting by John Revill, editing by Larry King

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