Print Edition - 2018-06-01  |  Money Digest

Task force aim to retrieve 1MDB funds

KUALA LUMPUR/SINGAPORE

Jun 1, 2018-

A Malaysian task force investigating a multi-billion-dollar scandal at state fund 1MDB is working with counterparts in neighbouring Singapore to retrieve funds believed to have been misappropriated, it said on Thursday. At least six countries, including the United States and Switzerland, are investigating claims that $4.5 billion was siphoned out of the fund, 1Malaysia Development Berhad, founded by former Prime Minister Najib Razak. Malaysia’s 1MDB task force, which met nine Singapore officials, said both sides would cooperate to return the funds to the Malaysian government. “Our cooperation is also aimed at collecting evidence and tracking down witnesses in Singapore as

soon as possible,” the task force said in a statement. (REUTERS)

 

Published: 01-06-2018 08:38

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