RM3b in 1MDB debts cleared over 2 years, says Najib

Kuala Lumpur

STATE fund 1Malaysia Development Berhad has cleared over RM3 billion (S$946 million) in debt over the past two years, Prime Minister Najib Razak said on Wednesday, amid ongoing money-laundering probes linked to 1MDB in at least six countries.

The sovereign wealth fund, founded by Mr Najib, is at the centre of civil lawsuits filed by the US Department of Justice that allege more than US$3.5 billion was misappropriated from 1MDB. The fund is also being investigated in Switzerland and Singapore.