US seeks to recover RM1.2 bil more in 1MDB assets held in UK

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DoJ says funds linked to a line of credit extended by Venezuela's state oil company to PetroSaudi Oil Services in connection with an oil drilling venture. FMTNews US 1MDB DoJ

Malaysian and US authorities estimate US$4.5 billion was stolen from 1MDB in an elaborate scheme that spanned the globe.

Malaysian and US authorities estimate US$4.5 billion was stolen from 1MDB in an elaborate scheme that spanned the globe and implicated high-level officials in the fund, former prime minister Najib Razak, executives at US bank Goldman Sachs, and others. Najib has denied wrongdoing. The companies are already embroiled in a legal dispute over the funds which the Malaysian high court has sought to freeze with cooperation from the British authorities.

 

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