TEHRAN, Jun 21 - Malaysia's anti-graft agency said Friday it has begun legal action to seek forfeiture and recovery of 270 million ringgit ($65.1 million) embezzled from the 1MDB investment fund. Officials estimated that another $5 billion worth in assets abroad linked to the fund could be recovered.
TEHRAN, Young Journalists Club (YJC) - Latheefa Koya, the new chief of the Malaysian Anti-Corruption Commission, said the agency has filed complaints in the high court against 41 individuals and entities to recover the money allegedly given to them by ex-Prime Minister Najib Razak.
U.S. investigators say at least $4.5 billion were allegedly stolen and laundered by Najib's associates from 1MDB. Najib set up the fund when he took power in 2009, but it accumulated billions in debts. The 1MDB fiasco led to Najib's shocking electoral defeat in May last year and ushered in the country's first change of power since independence from Britain in 1957.
Najib and his wife have been charged with multiple counts of corruption and money laundering and both have pleaded not guilty.
Latheefa said the civil forfeiture effort, the biggest so far by the agency, won't be hampered by Najib's ongoing trial linked to 1MDB. She said it is a "straightforward case" as there was a clear money trail showing the funds being channeled into Najib's bank account and Najib disbursing them to the 41 respondents.
Najib's claim of not knowing the source of the money in his account is unacceptable because the bank account holder is responsible to find out where the money came from and to report suspicious transactions, she told a news conference.
Source: AP
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