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Malaysia aims to locate further $4.34 billion in 1MDB-linked assets - Metro US

Malaysia aims to locate further $4.34 billion in 1MDB-linked assets

FILE PHOTO: Boxes of 1Malaysia Development Berhad (1MDB) documents arrive at Kuala Lumpur High Court in Kuala Lumpur, Malaysia, August 28, 2019. REUTERS/Lai Seng Sin
Reuters

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.”

(Reporting by Rozanna Latiff)

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