Negative
21Serious
Neutral
Optimistic
Positive
- Total News Sources
- 6
- Left
- 3
- Center
- 2
- Right
- 1
- Unrated
- 0
- Last Updated
- 84 days ago
- Bias Distribution
- 50% Left
PetroSaudi Executives Convicted in 1MDB Embezzlement
The Swiss Federal Criminal Court convicted Swiss-British national Patrick Mahony and Swiss-Saudi national Tarek Obaid for embezzling over $1.8 billion from Malaysia's state investment fund 1MDB. The two oil executives created a fraudulent joint venture with 1MDB by falsely claiming their company PetroSaudi was backed by the Saudi government. They siphoned off $1 billion initially and an additional $830 million between 2010 and 2011. Mahony and Obaid were sentenced to six and seven years in prison, respectively, and ordered to repay $1.75 billion. This case is part of the broader 1MDB scandal involving former Malaysian Prime Minister Najib Razak, who is also serving a prison sentence. The scandal has had significant international ramifications, impacting numerous financial institutions and individuals globally.
- Total News Sources
- 6
- Left
- 3
- Center
- 2
- Right
- 1
- Unrated
- 0
- Last Updated
- 84 days ago
- Bias Distribution
- 50% Left
Negative
21Serious
Neutral
Optimistic
Positive
Related Topics
Stay in the know
Get the latest news, exclusive insights, and curated content delivered straight to your inbox.