Malaysia seeks forfeiture of portion of embezzled 1MDB money

PUTRAJAYA, Malaysia (AP) — Malaysia’s anti-graft agency says it has begun legal action to seek the forfeiture and recovery of 270 million ringgit ($65.1 million) embezzled from the 1MDB investment fund. Officials estimate another $5 billion worth in assets abroad linked to the fund could be recovered.

Latheefa Koya, the new chief of the Malaysian Anti-Corruption Commission, says the agency has filed complaints against 41 individuals and entities to recover the money given to them by ex-Prime Minister Najib Razak.

Najib was ousted in a shock defeat in general elections last year and is currently on trial over the 1MDB scandal. He has denied any wrongdoing.

Latheefa said Friday it was a “straightforward case” as there was a clear money trail showing 1MDB money was channeled into Najib’s bank account.

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