Singapore Seizes Nearly $180 Mn Linked To Malaysia Fund

Singapore seizes nearly $180 mn linked to Malaysia fund

SINGAPORE, (APP - UrduPoint / Pakistan Point News - 21st july,2016) - Singapore revealed Thursday it had seized nearly $180 million in assets through its investigations into suspected fraud and money-laundering related to scandal-tainted Malaysian state fund 1MDB.

It added that half those assets were linked to Low Taek Jho, a Malaysian businessman. The joint statement by Singapore's central bank, police and attorney-general is the first time authorities revealed asset amounts or identified a key figure since launching investigations last year.