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Malaysia's Bank Negara launches 1MDB inquiry
It has also taken statements from individuals involved in the governance of the state fund
Published Wed, Jun 3, 2015 · 09:50 PM
Kuala Lumpur
MALAYSIA'S central bank said on Wednesday that it has launched a formal inquiry into state fund 1MDB and issued a legal directive for information to examine whether there had been any violation of its rules.
1MDB, a property-to-energy group whose advisory board is chaired by Prime Minister Najib Razak, has been dogged by controversy over nearly RM42 billion (S$15.29 billion) of debt and alleged financial mismanagement.
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