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.”
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.