FILE PHOTO: Traffic passes a 1Malaysia Development Berhad (1MDB) billboard at the Tun Razak Exchange development in Kuala Lumpur, Malaysia, July 6, 2015. REUTERS/Olivia Harris/File Photo
November 19, 2021
KUALA LUMPUR (Reuters) – Singapore has recently returned to Malaysia about $16.3 million linked to a multibillion-dollar scandal at state fund 1MDB, Malaysia’s anti-graft agency said on Friday.
U.S. authorities say about $4.5 billion was siphoned from 1Malaysia Development Berhad (1MDB) between 2009 and 2014, in a globe-spanning theft that has implicated high-ranking officials and financial institutions in multiple countries.
Malaysia has said billions more remain unaccounted for.
Malaysia has recovered about 20.5 billion ringgit ($4.90 billion) in 1MDB assets so far, the Malaysian Anti Corruption Commission said in a statement.
Efforts to recover more are ongoing, in countries including Switzerland, Kuwait, Mauritius, Cyprus, and Hong Kong, it added.
($1 = 4.1810 ringgit)
(Reporting by Rozanna Latiff; Editing by Martin Petty)
Source: One America News Network
