Malaysia aiming to trace $4.34 billion in 1MDB-linked assets: Latheefa Koya

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.”



Categories: Creativity, Economy & Finance, Entrepreneurship, HR & Organization, Regulations & Legal, Strategy

Tags: , , , , , , , , , , , ,

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: