Malaysian Prime Minister Mahathir Mohamad (Source: Xinhua/VNA) Kuala Lumpur (VNA) - The Malaysian governmentwill work with authorities in Switzerland, theUS, Singapore and other jurisdictions to recover funds that were embezzled fromthe state treasury, said Malaysian Prime Minister Mahathir Mohamad.
Speaking at a press conference in Kuala Lumpur on May 16, Mahathir revealedthat the amount of money from Malaysia flowing to the US reached 4.5 billionUSD.
The previous government did not acknowledge that this amount was sourced from thecountry’s state development fund 1MDB.
According to the Malaysianleader, more wrongdoing occurred at the fund than was publicly known.
Previously,on May 12, the Malaysian Immigration Department announced that former MalaysianPrime Minister Najib Razak and his wife Rosmah Mansor had been banned fromleaving the country.
Immediately after the move, Najib Razak said on his Twitter that he had beeninformed about this, adding that he would respect the ban and stay in Malaysiawith his family.
Najib Razak set up the 1MDBfund in 2009 to promote economic development through global partnerships andforeign direct investment.
However, the fund was the centre of a 3.7-billion-USD-money laundering scandalwhich led to a series of financial market investigations in a number ofcountries including the US, Switzerland, Singapore, Malaysia and China.-VNA
VNA
