You are here

Malaysia aims to locate further RM18b in 1MDB-linked assets

rk_1MDB_051119.jpg
Malaysia is looking to locate at least RM18 billion (S$5.9 billion) worth of further assets linked to a scandal at state fund 1MDB, and is working with at least five nations to recover the amount, its anti-corruption chief said on Tuesday.

[KUALA LUMPUR] Malaysia is looking to locate at least RM18 billion (S$5.9 billion) worth of further assets linked to a scandal at state fund 1MDB, and is working with at least five nations to recover the amount, its anti-corruption chief said on Tuesday.

US authorities say about US$4.5 billion was siphoned from sovereign wealth fund 1Malaysia Development Berhad (1MDB) in a scandal spanning several countries.

"This what we're working on... to locate, investigate and research where these properties are," Latheefa Koya, the head of Malaysia's Anti-Corruption Commission, told reporters.

"As you know it's not just a one-off transaction, it's multiple transactions, so we need to work together with the countries to help us."

REUTERS

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes