Australia: Australian police say they are helping with 1MDB investigations
Author(s): UNK | Date: January 10, 2017 | Language: English
Source: http://www.channelnewsasia.com/ | URL: https://goo.gl/BECUvb | Type: Text, Video
The Australian Federal Police (AFP) said on Tuesday (Jan 11) they are working with international law enforcement agencies to investigate companies associated with Malaysia’s scandal-hit sovereign wealth fund.
1Malaysia Development Bhd (1MDB), founded by Malaysian Prime Minister Najib Razak, is the subject of money laundering investigations in at least six other countries, including Switzerland, Singapore and the United States.
Civil lawsuits filed by the U.S. Department of Justice allege more than US$3.5 billion was misappropriated from 1MDB. The lawsuits seek to seize US$1 billion in assets allegedly siphoned off from 1MDB and diverted into luxury real estate in New York, Beverly Hills and London, valuable paintings, and a private jet.
Najib, who also chaired 1MDB’s advisory board, has denied wrongdoing and said Malaysia would cooperate with international investigations. 1MDB has also denied wrongdoing.
This is a text block. Click the edit button to change this text..