Regional Outlook, Global Perspective

MALAYSIA APPOINTS SINGAPORE LAW FIRM TO CLAIM 1MDB monies

The Malaysian Government has appointed a Singapore law firm, Tan Rajah & Cheah, as its solicitors to institute legal action against 53 individuals and companies to claim monies belonging to 1Malaysia Development Berhad (1MDB), Bernama reports. Several high-ranking officials from the Singapore and Malaysia task forces looking into the 1MDB scandal met in Putrajaya on late May. Both teams have agreed to work together to recover money believed to have been misappropriated from the state investment firm. Malaysia has frozen more than 400 bank accounts as part of a probe into a multi-billion-dollar scandal at state fund 1MDB, according to an investigative task force quoted by ABC News, as the step-son of former prime minister Najib Razak was summoned for questioning.

19/07/2018 in Daily Briefs, Malaysia, Regions

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