Almost US$4 billion has been “misappropriated” from  state-owned companies of Malaysia, according to the office of Swiss Attorney General. The funding was allotted for economic and social development projects in Malaysia.

CNN reported that the findings lead to an investigation into the 1 Malaysia Development Berhad (1MDB) which is a state owned fund formed in 2009. The fund was raised for investments in property, infrastructure and energy projects. Swiss prosecutors stated that the misappropriated money was for “economic and social development” of the country.

Malaysian Prime Minister Nazib Razak who is the founder and the chairperson of 1MBD was accused of draining off money from the fund, when US$681million was transferred into his account.

A statement issued by 1MBD confirmed  that it had not been contacted by foreign legal authorities regarding any issue related to the fund in question.

Incidentally, Nazib Razak was cleared of all charges by the Malaysian Anti-Corruption Commission. A press release issued by AG Mohammed Apandi, Attorney General of Malaysia, cleared Razak of all the charges.

The press release read, “…based on the evidence from witnesses and supporting documents submitted to me by the MACC show that the sum of US$681 million (RM2.08 billion) transferred into the personal account of YAB PM between 22.03.2013 and 10.04.2013 is a personal donation to YAB PM from the Saudi royal family which was given to him without any consideration”.

According to the Malaysia Chronicle, the Swiss Attorney General Michael Laubersaid has issued a statement of possible extraordinary directness from the otherwise low-profiled Swiss. The one page document which requests Malaysia to assist in Switzerland’s own criminal enquiries into 1MBD. This has given the whole issue a new turn.

This also indicated that the Swiss Attorney General has authenticated the allegations made by Sarawak report and other investigators into 1MBD.  The document gives the original details of the dossier of Swiss national Xavier Justo.