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Malaysia aims to locate further US$4.3 billion in 1MDB-linked assets

Bloomberg
Bloomberg11/5/2019 02:54 PM GMT+08  • 2 min read
Malaysia aims to locate further US$4.3 billion in 1MDB-linked assets
(Nov 5): Malaysia is working to locate at least US$4.3 billion ($5.8 billion) in assets that have yet to be accounted for in a global money laundering probe into state fund 1MDB, its anti-corruption chief said on Tuesday.
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(Nov 5): Malaysia is working to locate at least US$4.3 billion ($5.8 billion) in assets that have yet to be accounted for in a global money laundering probe into state fund 1MDB, its anti-corruption chief said on Tuesday.

U.S. authorities say about US$4.5 billion was siphoned from sovereign wealth fund 1Malaysia Development Berhad (1MDB) in a scandal spanning several countries but Malaysian officials say much more was stolen.

The United States struck a deal last week to recover about US$700 million more from fugitive financier Jho Low, who has played a central role in the scandal. He had previously forfeited a US$126 million yacht and US$140 million in other assets.

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