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Mystery deepens over US$3.5b 1MDB sent to a BVI entity

Abu Dhabi SWF, unit Aabar Investments say the BVI firm with an almost identical name does not belong to them

Published Mon, Apr 11, 2016 · 09:50 PM
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Kuala Lumpur

THE mystery over who controlled a British Virgin Islands (BVI)-registered company that received US$3.5 billion from Malaysia's scandal-tainted state fund 1MDB deepened on Monday when a company in the Middle East with an almost identical name said the BVI firm did not belong to it.

Abu Dhabi's sovereign wealth fund (SWF), International Petroleum Investment Co (IPIC), and its subsidiary Aabar Investments said in a joint statement the BVI firm with an almost identical name, Aabar Investments PJS Ltd, "was not an entity within either corporate group".

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