The U.S. Justice Department on Friday said it had filed complaints seeking forfeiture and recovery of approximately $38 million in assets associated with its 1Malaysia Development Berhard – or 1MDB – case, bringing the assets now subject to forfeiture to a total of about $1.7 billion.
“These new lawsuits target assets collected by corrupt officials and their associates through a massive scheme that stole billions of dollars from the people of Malaysia and laundered the proceeds across the world,” U.S. Attorney Nick Hanna said in a statement.
The complaints filed on Friday in California involve luxury real estate in London and New York, as well as converted equity in a Kentucky facilities management company, and are tied to 2012 and 2013 bond offerings from the sovereign wealth fund, the department said.
– By Lisa Lambert, Reuters, 22 February 2019
Link to Reuters
Count reading this article to your CPD minutes, by signing up to our CPD Wallet
FREE CPD Wallet