US Moves To Seize $1 Bn In Assets Of Malaysian 1MDB Fund

Faizan Hashmi Published July 20, 2016 | 07:03 PM

US moves to seize $1 bn in assets of Malaysian 1MDB fund

WASHINGTON, (APP - UrduPoint / Pakistan Point News - 20th july, 2016) - The US Justice Department said Wednesday it is moving to seize more than $1 billion in assets linked to Malaysia's 1MDB state investment fund. The department said the assets are "associated with an international conspiracy to launder funds misappropriated" from 1Malaysia Development Berhad, which was established by Malaysian Prime Minister Najib Razak to support economic investment.

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