HONG KONG (May 4): Hong Kong bank accounts belonging to several unnamed individuals have been frozen amid global investigations into the finances of a troubled Malaysian state fund, according to people with knowledge of the matter.

Those who had their funds locked are being probed by authorities in countries outside of Malaysia, such as Singapore, the people said, asking not to be identified because of the sensitivity of the matter.

1Malaysia Development Bhd, which defaulted on its debt last month, is at the center of multiple inquiries stretching from Switzerland to the US amid allegations of money laundering and embezzlement, and has consistently denied wrongdoing. Malaysia’s central bank last week fined 1MDB and announced it was ending its investigation.

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