US DOJ says pursuing investigations related to 1MDB

22 May 2018 / 12:06 H.
    US DOJ says pursuing investigations related to 1MDB
    A man walks past a 1MDB billboard at the fund's flagship Tun Razak Exchange development in Kuala Lumpur, in this March 1, 2015 file photo. — Reuters

KUALA LUMPUR: The US Department of Justice said today it would continue to pursue investigations into 1 Malaysia Development Berhad (1MDB) and looked forward to working with law enforcement authorities, which have reopened a probe into the fund this month.
"The Department of Justice is committed to ensuring that the United States and its financial system are not threatened by corrupt individuals and kleptocrats who seek to hide their ill-gotten wealth," a DoJ spokesperson said in an email statement to Reuters.
"Whenever possible, recovered assets will be used to benefit the people harmed by these acts of corruption and abuse of office," the statement added.
The US filed forfeiture complaints in 2016 and 2017 seeking to recover over US$1.7 billion (RM6.7 billion) in assets traceable to funds allegedly misappropriated from 1MDB.
These complaints alleged that more than US$4.5 billion (RM17 billion) was diverted from 1MDB and laundered through a web of shell companies and bank accounts located in the United States and elsewhere. — Reuters

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