Malaysia aims to locate further $4.34 billion in 1MDB-linked assets
KUALA LUMPUR (Reuters) - Malaysia is looking to locate at least 18 billion ringgit ($4.34 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. U.S. authorities say about $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.”
