Swiss Conviction in 1MDB Scandal

The Malaysian sovereign wealth fund 1MDB has expressed its approval of the Swiss Federal Criminal Court's conviction of Patrick Mahony and Tarek Obaid. The executives have been found guilty of defrauding the 1MDB fund, a move welcomed by the Malaysian institution as a step towards justice.

The board of Malaysian sovereign wealth fund 1MDB has expressed its approval of the recent convictions in Switzerland. Two executives, Patrick Mahony and Tarek Obaid, have been found guilty of defrauding the fund, according to a statement released on Wednesday.

A spokesperson for 1MDB said, 'We welcome today's verdict in Switzerland's Federal Criminal Court, which means that Patrick Mahony and Tarek Obaid will face justice for their role in embezzling and defrauding the people of Malaysia.'

The convictions mark a significant development in the ongoing efforts to hold those responsible for the 1MDB scandal accountable.

(With inputs from agencies.)