The Attorney General of Switzerland began investigation into Malaysian state-owned development fund, IMDB last August involving two former officers of 1MDB for bribery of foreign officers and others.

Wall Street Journal reported that Swiss Attorney General's office investigating Malaysian State Owned Fund, 1MDB, said on Friday that it suspects about $4 bil has been misappropriated from Malaysian State Companies.

The investigation by the office of the Swiss Attorney General has revealed serious indications that funds have been misappropriated.In addition, it has been revealed that a small portion of money has been transferred to accounts held in Switzerland by various former public officials of Malaysian government including both former and current public officials from United Arab Emirates.

Reuters reported the office of Switzerland's Attorney General has formally asked Malaysia to help with its probes into possible violations of Swiss laws related to bribery of foreign officials, misconduct in public office, money laundering and criminal mismanagement at the fund.

The monies believed to have been misappropriated would have been earmarked for investment in economic and social development projects in Malaysia.At least four cases have been identified and each case revealed a "systematic course of action carried out by means of complex financial structures"

Swiss authorities began investigations for suspected corruption of public foreign officials, dishonest management of public interests and money laundering. The four cases suspected of criminal misconduct related to former subsidiary of 1MDB namely, SRC International, PetroSaudi, Genting/Tanjong and ADMIC and allegedly took place between 2009 and 2013.

The officials from Malaysian Anti-Graft were not available for comment. Calls made to Genting/Tanjong went unanswered and so did calls to PetroSaudi and ADMIC. Swiss AG's office statement said Michael Lauber has already discussed the matter with his Malaysian counterpart at a meeting in Zurich in September.

Sources familiar with the investigation and the September meeting say that Malaysian officials have strongly urged Lauber to abandon his 1MDB related investigation. It is reported 1MDB is under investigation not only in the Switzerland but also in Hong Kong and USA by law enforcement agencies.

Tony Pua - an opposition MP for the Democratic Action Party, said Malaysian AG ought to give utmost co-operation to Switz AG office.  He was quoted as saying," Such co-operation will only go along way towards identifying the culprits but also removing the perception that the Malaysian AG was biased in favour of PM"

BBC reported in a statement on Saturday that 1MDB  had said,"it remains committed to fully co-operating with any lawful authority and investigation". But that 1MDB had not yet heard from any foreign legal authorities.

The reason for the office of the Swiss AG in asking for mutual assistance from Malaysia is for purpose of advising the companies involved and the Malaysian government whether de facto the monies were misappropriated. The true story would unfold in the days and weeks to come.