The former chairman of the Hakkasan restaurant group is allegedly being investigated in a global embezzling case

Khadem al-Qubaisi, the former head of Abu Dhabi’s state oil investment firm and the ex-chairman of the Hakkasan restaurant group, is allegedly being probed over suspected embezzling from Malaysia’s government wealth fund, 1MDB.

According to a report in the Financial Times, al-Qubaisi is allegedly being investigated by Swiss authorities over a possible role in a scheme to siphon funds from Malaysia’s sovereign wealth fund.

The authorities suspect al-Qubaisi of “fraud, money-laundering and corruption,” according to a letter cited by the FT.

The FT says al-Qubaisi’s whereabouts are unknown.

Al-Qubaisi was managing director of Abu Dhabi’s International Petroleum Investment Company until he was deposed last year. He was chairman of Hakkasan until resigning earlier this year.

Authorities from around the globe are investigating the disappearance of funds from 1MDB. Last month the US Department of Justice filed lawsuits to seize dozens of properties tied to fund, saying that over $3.5 billion (£2.7 billion) was wrongly drained from the institution.

The lawsuits, filed in Los Angeles, seek to seize assets “involved in and traceable to an international conspiracy to launder money misappropriated from 1MDB.”

The trappings of al-Qubaisi’s extravagant lifestyle are at risk. The suits allege al-Qubaisi received proceeds from 2012 bond sales by 1MDB “for his own personal benefit,” according to a report by Reuters, violating the terms of his post as managing director of IPIC.

The US authorities are seeking to seize assets including luxury properties in New York and California, Monet and Van Gogh paintings, and a Bombardier jet.

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