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Bank Negara orders 1MDB to repatriate money sent overseas

Published Thu, Apr 28, 2016 · 09:50 PM
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Kuala Lumpur

MALAYSIA'S central bank on Thursday ordered troubled state-owned investment firm 1MDB to repatriate money that was sent overseas without approval, putting further strain on the scandal-plagued company just days after it defaulted on a bond issue.

The fund, founded in 2009 by Prime Minister Najib Razak, is teetering on the brink of collapse amid multiple investigations around the world into allegations that billions were looted from it.

Mr Najib also has been under pressure over US$6…

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