08:17:00
The 1MDB fund was set up in 2009 to pay for major new economic and social developments in Malaysia.
Last year, Swiss authorities opened an investigation into 1MDB after it amassed more than $11bn (£7bn) of debt.
About $4bn (£2.8bn) may have been stolen from a fund owned by the Malaysian state, a prosecutor says.
Some of the money, the office of Michael Lauber said, had been transferred to Swiss accounts held by Malaysian former public officials and current and former public officials from the United Arab Emirates.
In a statement on Saturday, 1MDB said it "remains committed to fully co-operating with any lawful authority and investigation", but had not yet heard from any foreign legal authorities. Regulators in the US and Hong Kong are also reported to be investigating 1MDB. The fund's advisory board is chaired by Prime Minister Najib Razak, who launched 1MDB soon after taking office in 2009.
Mr Patail was replaced, and, after an investigation, his successor last week cleared Mr Najib of corruption saying that the money was a personal donation by the Saudi royal family to the prime minister's private bank account. "I am satisfied that there is no evidence to show that the donation was a form of gratification given corruptly," said Attorney-General Mohamed Apandi Ali. Most of the money was later returned, he said. Malaysia's anti-corruption commission said it would seek a review of the attorney-general's decision.
About $4bn (£2.8bn) may have been stolen from a fund owned by the Malaysian state, a prosecutor says.
Some of the money, the office of Michael Lauber said, had been transferred to Swiss accounts held by Malaysian former public officials and current and former public officials from the United Arab Emirates.
In a statement on Saturday, 1MDB said it "remains committed to fully co-operating with any lawful authority and investigation", but had not yet heard from any foreign legal authorities. Regulators in the US and Hong Kong are also reported to be investigating 1MDB. The fund's advisory board is chaired by Prime Minister Najib Razak, who launched 1MDB soon after taking office in 2009.
Mr Patail was replaced, and, after an investigation, his successor last week cleared Mr Najib of corruption saying that the money was a personal donation by the Saudi royal family to the prime minister's private bank account. "I am satisfied that there is no evidence to show that the donation was a form of gratification given corruptly," said Attorney-General Mohamed Apandi Ali. Most of the money was later returned, he said. Malaysia's anti-corruption commission said it would seek a review of the attorney-general's decision.
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