Intellasia East Asia News – Malaysia says Singapore has returned $16.3 million in 1MDB funds

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)

https://www.reuters.com/markets/funds/malaysia-says-singapore-has-returned-163-million-1mdb-funds-2021-11-19/

 

Category: Malaysia, Singapore


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