The investigation into Malaysia’s sovereign wealth fund 1Malaysia Development Berhad (1MDB) spans several countries.
On Tuesday, in a statement Malaysia’s anti-corruption chief disclosed, Malaysia is looking to locate at least $4.34 billion (18 billion ringgit) worth of assets linked to a scandal at 1MDB. Kuala Lumpur is working with at least five nations to recover the amount.
According to U.S. authorities, around $4.5 billion was siphoned from Malaysia’s sovereign wealth fund 1Malaysia Development Berhad (1MDB) in a scandal that spanned several countries.
“This what we’re working on… to locate, investigate and research where these properties are,” said Latheefa Koya, the head of Malaysia’s Anti-Corruption Commission. “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.”