Summary
- Swiss Federal Criminal Court convicts PetroSaudi executives for embezzling $1.8 billion from 1MDB
- Executives Tarek Obaid and Patrick Mahony sentenced to seven and six years in prison respectively
- Scheme involved fraudulently persuading 1MDB to sign up for joint venture with PetroSaudi
- Total of $4.5 billion estimated to have been siphoned away from 1MDB