(Dec 5): The US attorney-general described a multi-billion dollar corruption scandal involving a Malaysian state fund as the worst form of kleptocracy, and said the US Department of Justice (DoJ) was working to provide justice to the victims.

The DoJ in June filed several lawsuits to seize more than US$1.7 billion ($2.29 billion) in assets believed to have been stolen from 1Malaysia Development Berhad (1MDB), a sovereign fund set up by Malaysian Prime Minister Najib Razak.

US Attorney-General Jeff Sessions said on Monday the 1MDB-linked assets accounted for nearly half of some US$3.5 billion in total proceeds seized or restrained by the DoJ, tied to money-laundering offences.

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