Malaysia authorities fine 80 individuals, entities in 1MDB scandal
Malaysian authorities have ordered 80 individuals and entities to pay fines for allegedly receiving money from the state fund 1Malaysia Development Berhad (1MDB), the Malaysian Anti-Corruption Commission (MACC) said on October 7.
(Photo: Reuters)Hanoi (VNA) – Malaysian authorities have ordered 80 individuals and entities to pay
fines for allegedly receiving money from the state fund 1Malaysia Development
Berhad (1MDB), the Malaysian Anti-Corruption Commission (MACC) said on October
7.
Malaysian and US investigators said about 4.5 billion USD was misappropriated from 1MDB which was set up in 2009 by then Prime Minister Najib Razak.
Najib, who lost the general election last year, is now facing 42 graft and money laundering charges over allegations that he received about 1 billion USD in 1MDB funds. He has pleaded not guilty.
MACC’s head Latheefa Koya told reporters that the agency is trying to recover 420 million ringgit (some 100 million USD) from individuals and entities who had allegedly received funds laundered through accounts linked to Najib.
The MACC has issued compound notices against all of these people and entities, ordering them to pay up the fines, Latheefa said, adding that they could be fined up to 2.5 times the amount received.
The individuals include Najib's brother Nazir Razak, former chairman of Malaysia's second-largest bank, CIMB; and Shahrir Abdul Samad, former chairman of state palm oil agency Felda.
Funds were also distributed to companies, political parties and organisations linked to Najib's coalition, according to the MACC./.
Malaysian and US investigators said about 4.5 billion USD was misappropriated from 1MDB which was set up in 2009 by then Prime Minister Najib Razak.
Najib, who lost the general election last year, is now facing 42 graft and money laundering charges over allegations that he received about 1 billion USD in 1MDB funds. He has pleaded not guilty.
MACC’s head Latheefa Koya told reporters that the agency is trying to recover 420 million ringgit (some 100 million USD) from individuals and entities who had allegedly received funds laundered through accounts linked to Najib.
The MACC has issued compound notices against all of these people and entities, ordering them to pay up the fines, Latheefa said, adding that they could be fined up to 2.5 times the amount received.
The individuals include Najib's brother Nazir Razak, former chairman of Malaysia's second-largest bank, CIMB; and Shahrir Abdul Samad, former chairman of state palm oil agency Felda.
Funds were also distributed to companies, political parties and organisations linked to Najib's coalition, according to the MACC./.
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