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Malaysia strives to recover assets in 1MDB scandal

The Government of Malaysia is looking to locate at least 18 billion ringgit (equivalent to 4.34 billion USD) worth of further assets linked to a scandal at the state fund 1MDB.
Malaysia strives to recover assets in 1MDB scandal ảnh 1The 1MDB was founded by former Prime Minister Nazib Razak in 2009 with the aim of boosting the country’s socio-economic development. (Illustrative image. Source: AFP/VNA)

Hanoi (VNA) – The Government ofMalaysia is looking to locate at least 18 billion ringgit (equivalent to 4.34billion USD) worth of further assets linked to a scandal at the state fund1MDB.

Speaking at a press conference on November 5,Latheefa Koya, head of the Malaysian Anti-Corruption Commission (MACC), saidKuala Lumpur is working with at least five countries to rover the assets.

This is what the country is working on tolocate, investigate and find out where these properties are, she toldreporters.

The 1MDB was founded by former Prime MinisterNazib Razak in 2009 with the aim of boosting the country’s socio-economicdevelopment.

Malaysian and American investigators believethat the fund has looted about 4.5 billion USD, about 1 billionUSD of which was sent to Nazib’s personal bank account.

At least six countries are investigating thescandal./.
VNA
#Government of Malaysia#state fund 1MDB#scandal#Latheefa Koya#Malaysian Anti-Corruption Commission (MACC)#former Prime Minister Nazib Razak#Vietnamplus#Vietnam News Agency
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