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