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Malaysia police announce seizure of millions of USD in 1MDB case

Malaysian police said on May 25 that they 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.
Malaysia police announce seizure of millions of USD in 1MDB case ảnh 1Police seize assets in the case (Source: VNA)
Kuala Lumpur (VNA) - Malaysian police said on May 25 that they had seized cashworth 114 million ringgit (28.6 million USD) kept in 35 bags when searching severalapartments as part of an anti-corruption probe into a state fund 1MDB.

Police also seized 37 luxury handbags and 284 boxes keeping jewellery andwatches, Amar Singh, thehead 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 2009with the aim of serving the country’s socio-economic development.

Former PM Najib was accused of being related to the loss of billions of USdollars in transactions with other countries through the 1MDB. However, thefund representative and Najib for many times rejected the accusation.

Malaysia has set up a special task force to investigate the scandal surroundingthe fund.

The team is responsible for carrying out probes, identifying and seizing assetsacquired using funds from the state fund.

It also works to seek cooperation from enforcement agencies in the UnitedStates, Switzerland, Singapore, Canada and other countries.

The newly-elected PM Mahathir Mohamad said that he will re-investigate the caseand is determined to reclaim the loss.-VNA

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#anti-corruption probe #Vietnamplus #Vietnam News Agency #state fund 1MDB #Malaysian PM Najib Razak #special task force #newly-elected PM Mahathir Mohamad Malaysia
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