Malaysia working to recover USD65 mln in 1MDB case

6/22/2019 - 4:37:12 PM

The Malaysian Anti-Corruption Commission (MACC) has launched legal action against 41 individuals and organisations to recover about USD65 million stolen from scandal-hit state fund 1MDB.

Former Malaysian Prime Minister Datuk Seri Najib Razak (Photo: VNA)

MACC leader Latheefa Koya said the suit was filed at the Kuala Lumpur High Court on June 19th under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001.

The money disbursed to these recipients and entities all came from a personal bank account of former Prime Minister Datuk Seri Najib Razak, who was under investigation for charges of corruption and position abuse.

Among the organisations targeted are branches of the United Malays NationalOrganisation (UMNO), which was once headed by Najib, and other parties linked to UMNO and several businesses.

The 1MDB was founded by Nazib in 2009 with an aim for socio-economic development. Malaysian and US investigators believe that the fund has looted about USD4.5 billion, about USD1 billion of which was sent to the former Malaysian PM’s personal bank account.

Corruption charge in the scandal contributed to Nazib’s losing power at the general election on May 9, 2018. At least six countries are investigating the scandal./.

Source: CPV

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