Police seize assets in the case (Source: VNA) Kuala Lumpur (VNA) - Malaysian police said on May 25 that they had seized cash worth 114 million ringgit (28.6 million USD) kept in 35 bags when searching several apartments as part of an anti-corruption probe into a state fund 1MDB.
Police also seized 37 luxury handbags and 284 boxes keeping jewellery and watches, Amar Singh, the head of commercial crime division, told a news conference. However, the value of the items has yet to be estimated.
Last week, police conducted searches of three apartments in Kuala Lumpur.
1MDB is an investment fund formed by former Malaysian PM Najib Razak in 2009 with the aim of serving the country’s socio-economic development.
Former PM Najib was accused of being related to the loss of billions of US dollars in transactions with other countries through the 1MDB. However, the fund representative and Najib for many times rejected the accusation.
Malaysia has set up a special task force to investigate the scandal surrounding the fund.
The team is responsible for carrying out probes, identifying and seizing assets acquired using funds from the state fund.
It also works to seek cooperation from enforcement agencies in the United States, Switzerland, Singapore, Canada and other countries.
The newly-elected PM Mahathir Mohamad said that he will re-investigate the case and is determined to reclaim the loss.-VNA
Police also seized 37 luxury handbags and 284 boxes keeping jewellery and watches, Amar Singh, the head of commercial crime division, told a news conference. However, the value of the items has yet to be estimated.
Last week, police conducted searches of three apartments in Kuala Lumpur.
1MDB is an investment fund formed by former Malaysian PM Najib Razak in 2009 with the aim of serving the country’s socio-economic development.
Former PM Najib was accused of being related to the loss of billions of US dollars in transactions with other countries through the 1MDB. However, the fund representative and Najib for many times rejected the accusation.
Malaysia has set up a special task force to investigate the scandal surrounding the fund.
The team is responsible for carrying out probes, identifying and seizing assets acquired using funds from the state fund.
It also works to seek cooperation from enforcement agencies in the United States, Switzerland, Singapore, Canada and other countries.
The newly-elected PM Mahathir Mohamad said that he will re-investigate the case and is determined to reclaim the loss.-VNA
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