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Swiss court convicts two executives of embezzling $1.8bn from 1MDB

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Swiss court convicts two executives of embezzling .8bn from 1MDB

Court sentences PetroSaudi executives to six and seven years in Malaysia investment fund fraud case.

The Swiss Federal Criminal Court has convicted two executives from an oil exploration company for embezzling more than $1.8bn from Malaysia’s state investment fund 1MDB.

The verdict on Wednesday was the latest episode in the 1MDB scandal, a complex tale of international corruption that has buffeted a slew of financial institutions and individuals across the globe since allegations of wrongdoing first surfaced in 2015.

Prosecutors alleged that Swiss-British national Patrick Mahony and Swiss-Saudi Tarek Obaid had helped set up a joint venture with 1MDB by creating the impression that their company, PetroSaudi, was backed by Saudi Arabia’s government.

This was not the case, but the accused managed to persuade 1MDB’s board into signing up to the scheme in 2009 before going on to defraud the fund, prosecutors said.

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According to the indictment, the two executives defrauded the wealth fund of $1.8bn to enrich themselves with Obaid getting at least $805m and Mahony at least $37m.

Obaid was sentenced to seven years in prison while Mahony received a sentence of six years.

Lawyers for the two men, who had denied wrongdoing, could not immediately be reached for comment by the Reuters news agency.

Prosecutors said the two men created the fraudulent scheme with fugitive Malaysian financier Jho Low, an adviser to former Malaysian Prime Minister Najib Razak, who is in prison over his role in the multibillion-dollar scandal.

Initially extracting $1bn from 1MDB so it could buy a stake in their venture, the accused took a further $830m from the fund from 2010 to 2011 as part of an Islamic loan that followed on from their tie-up, prosecutors said.

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From September 2009 to at least July 2015, the accused arranged for bank accounts to be opened in Switzerland to help launder the money, prosecutors said.

They used it to buy real estate in Switzerland and London, jewellery and private equity as well as to develop the PetroSaudi business, from which they received a sizeable income, and to maintain “a lavish lifestyle”, prosecutors said.

This year, 1MDB filed a lawsuit against Mahony seeking the return of the $1.83bn.

The 1MDB board lauded the convictions. “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,” a 1MDB spokesperson said on Wednesday.

Malaysian and US investigators estimated a total of $4.5bn was syphoned away from 1MDB after its inception in 2009, implicating figures ranging from Razak, Goldman Sachs staff and high-level officials elsewhere.

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Last year, a US court sentenced Ng Chong Hwa – known as “Roger Ng” – a Malaysian citizen and former manager at Goldman Sachs to 10 years in jail “for conspiring to launder billions of dollars embezzled” from 1MDB.

In June, the US Department of Justice said it helped recover an additional $156m in 1MDB funds for Malaysia, bringing the total money returned to Kuala Lumpur to about $1.4bn.

US prosecutors say 1MDB officials and their associates embezzled the money and spent it on a “variety of extravagant items, including luxury homes” and fine art.

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Team Races Against Time to Save a Tangled Sea Lion in British Columbia

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Team Races Against Time to Save a Tangled Sea Lion in British Columbia

A team of marine mammal experts had spent several days in Cowichan Bay, British Columbia, searching for a sea lion with an orange rope wrapped around its neck. As the sun set on Dec. 8, they were packing up, for good, when a call came in.

The tangled animal, a female Steller sea lion weighing 330 pounds, had been spotted on a dock in front of an inn, leading into the bay in southwestern Canada.

The rope was wrenched four times around her neck, carving a deep gash. Without help, the sea lion would die.

The team had been trying to find the sea lion for a month, and on that day, with daylight running out, the nine members that day knew they needed to work fast. They relaunched their boats and a team member loaded a dart gun and shot her with a sedative.

“Launching the dart is the easiest part of the whole operation,” said Dr. Martin Haulena, executive director of the Vancouver Aquarium Marine Mammal Rescue Society, which conducted the rescue alongside Fisheries and Oceans Canada. “It’s everything that happens after that, that you just have no control over.”

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Steller sea lions, also known as northern sea lions, are the largest such breed. They are found as far south as Northern California and in parts of Russia and Japan. A male Steller sea lion can weigh up to 2,500 pounds.

The Cowichan Tribes Marine Monitoring Team assisted the rescue society, calling it whenever the sea lion was spotted. The tribe named her Stl’eluqum, meaning “fierce” or “exceptional” in Hul’q’umi’num’, an Indigenous language, according to the rescue society.

After Stl’eluqum was sedated, she jumped from the dock into the water. Recent torrential rains and flooding had stirred up debris, making the water brown, and harder to spot the sea lion, Dr. Haulena said.

Several minutes after the sea lion dived into the bay, the drone spotted her and the team moved in.

The rope had multiple strands and it was wrapped so deeply that she most likely wasn’t able to eat, Dr. Haulena said. At first, the team had trouble freeing her.

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“You couldn’t see it because it was way dug in underneath the skin and blubber of the animal,” Dr. Haulena said.

After unraveling the rope, the team tagged her flipper, gave her some antibiotics and released her.

Freeing the sea lion was the culmination of weeks of searching and missed moments. The first call about the tangled marine mammal was made to the Fisheries and Oceans Canada hotline on Nov. 7, according to a news release from the rescue society. Then the society logged more calls.

The Vancouver Aquarium Marine Mammal Rescue Society, a nonprofit that works in partnership with the Vancouver Aquarium, searched for several days for the sea lion. The day they found her was the last of the rescue effort because bad weather was forecast for the area around the bay. The call that led them to Stl’eluqum came from the Cowichan Tribes, Dr. Haulena said.

The society, Dr. Haulena said, cares for about 150 marine mammals from its rescues every year — sea lions, otters, harbor seals and the occasional sea turtle. The group gives medical care to animals it takes in, such as Luna, an abandoned newborn sea otter who was three pounds when she was found and still had her umbilical cord attached.

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Many of the society’s rescues involve animals tangled in garbage or debris, Dr. Haulena said.

Stl’eluqum was tangled in nylon rope commonly used to tie boats or crab traps, he said. When sea lions get something caught around their necks it can grow tighter until it cuts into their organs, sometimes fatally, he said.

“It’s our garbage; it’s our fault,” Dr. Haulena said. “It’s a large amount of animal suffering and not a good outcome unless we can do something.”

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Poland foils ISIS-type bomb plot as Sydney attack triggers UK, Europe terror alerts

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Poland foils ISIS-type bomb plot as Sydney attack triggers UK, Europe terror alerts

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Polish authorities have foiled a suspected ISIS-inspired plot to attack a Christmas market, charging a student accused of preparing a mass casualty bombing, according to officials.

The case comes as Germany and the U.K. also raised security measures around religious and cultural events after the Sydney shooting Sunday in which 16 people were shot dead at a Jewish Hanukkah party on Bondi Beach.

Polish authorities say the suspect, identified as Mateusz W., 19, was detained in late November at an apartment in Lublin by officers from the Internal Security Agency (ABW).

According to Jacek Dobrzyński, a spokesperson for the Minister’s Coordinator of Special Services, investigators believe the teen had been studying how to make explosives and intended to join a terrorist organization to help carry out the attack.

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EUROPEAN CHRISTMAS MARKETS FORTIFY SECURITY MEASURES AS TERROR THREATS FORCE MAJOR OPERATIONAL CHANGES

Polish authorities foil an alleged ISIS Christmas market bombing plot targeting holiday shoppers. (Artur Widak/NurPhoto via Getty Images)

“The purpose of the crime was to intimidate many people, as well as to support the Islamic State,” Dobrzyński said in a statement shared on X.

Items linked to Islam and digital storage devices were seized, and the suspect has been remanded for three months as the Szczecin branch of ABW continues its investigation.

At a news conference, Dobrzyński also referenced a June case in which three 19-year-olds were charged over alleged extremist plots, including a reported plan to attack a school in Olsztyn.

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MOSSAD–EUROPEAN INTELLIGENCE OPERATION LAUNCHES SWEEPING CRACKDOWN ON HAMAS GLOBAL TERROR NETWORK

Authorities arrested five on suspicion of plotting a terror attack on a Christmas market in Bavaria.  (Juergen Sack/Getty Images)

“You are familiar with this issue from Olsztyn; now we have another example of preparing an attack before Christmas,” he told reporters, according to GB News.

In Germany, police in Lower Bavaria also arrested five men on Dec. 12 on suspicion of preparing an attack on a Christmas market, according to reports.

Authorities said an Egyptian national described as an Islamic preacher had allegedly called for an assault during gatherings at a mosque in the Dingolfing-Landau area, per Euronews.

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CANADIAN SPY CHIEF WARNS OF ALARMING RISE IN TEEN TERROR SUSPECTS, ‘POTENTIALLY LETHAL’ THREATS BY IRAN

In the U.K., counterterrorism officials have stepped up armed patrols and public alert messaging across London and other major cities. (Matthew Chattle/Future Publishing via Getty Image)

Special operations forces carried out the arrests, and investigators believe the group had begun early-stage preparations.

In the U.K., counterterrorism officials stepped up armed patrols and public alert messaging across London and other major cities on Tuesday.

“Sadly, as shown by the appalling attack on Sydney’s Jewish community during a Hanukkah event, we know they can also be a target for terrorist activity,” Deputy Assistant Commissioner Jon Savell said in a press release.

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He cited large festive gatherings, religious services and Christmas markets as potential targets.

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In the release posted Tuesday, he urged the British public to report anything that “doesn’t feel right” as part of the annual winter vigilance campaign.

Meanwhile, U.S. authorities say they separately disrupted a New Year’s Eve plot in Southern California.

Four alleged members of an extremist anti-capitalist, anti-government group suspected of rehearsing coordinated bombings against sites linked to two U.S. companies were arrested on Monday.

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Thousands of dinosaur footprints discovered on rock faces in northern Italy

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Thousands of dinosaur footprints have been found in a national part in northern Italy known as the Parco Nazionale dello Stelvio Branchi.

Experts say they are from enormous herbivores that lived there 210 million years ago in the Triassic period.

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