Singapore seizes S$240m in assets linked to 1MDB funds

Singapore

SOME S$240 million in assets have been seized by the Singapore authorities who are investigating the fund flows related to 1MDB, with about half these assets belonging to the now-infamous Malaysian tycoon Low Taek Jho and his immediate family.

Singapore's Attorney-General's Chambers, the Commercial Affairs Department and the Monetary Authority of Singapore (MAS) said in a joint statement that bank accounts belonging to some individuals have been seized and dealings in properties belonging to some of them, curtailed.