US seeks to recover US$300mil more in 1MDB assets held in Britain


Malaysian and U.S. authorities estimate $4.5 billion was stolen from 1MDB in an elaborate scheme that spanned the globe and implicated high-level officials in the fund, former Malaysian Prime Minister Najib Razak, executives at U.S. bank Goldman Sachs, and others. Najib has denied wrongdoing.

WASHINGTON: The U.S. Department of Justice is seeking to recover $300 million in additional assets allegedly associated with the multibillion-dollar 1MDB scandal, assets it has traced to an escrow account in the United Kingdom, the agency said on Wednesday.

Malaysian and U.S. authorities estimate $4.5 billion was stolen from 1MDB in an elaborate scheme that spanned the globe and implicated high-level officials in the fund, former Malaysian Prime Minister Najib Razak, executives at U.S. bank Goldman Sachs, and others. Najib has denied wrongdoing.

Subscribe now and receive FREE sooka plan for 1 month.
T&C applies.

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

1MDB , Malaysia , scandal , Najib , assets ,

   

Next In Business News

Bank of England cuts rates but sees higher inflation after Reeves' budget
Tengku Zafrul: Malaysia secures potential exports to China worth RM3.2bil
Malaysia ready for new investment era with clear economic vision - MoF
Microlink wins RM83.5mil project from Home Affairs Ministry
Ringgit marginally lower against US dollar at the close
TWL Holdings secures RM42.5mil banking facility from UOB Malaysia
Ekovest's Lim is said to consider sale of toll roads for RM5bil
Sunway Malls projects 5% growth for 2024
Pentamaster 3Q net profit halves to RM11.8mil
Metro Healthcare’s 156.63 mln IPO shares for public oversubscribed by 38.60 times

Others Also Read