| Luxembourg's state prosecutor has launched a judicial inquiry into allegations of money laundering involving hundreds of millions of dollars against Malaysia's sovereign wealth fund 1Malaysia Development Bhd (1MDB).
The prosecutor said on Thursday that the inquiry followed evidence that funds held by the Malaysian government in offshore accounts in Singapore, Switzerland and Luxembourg had been misused. "The investigation aims to trace the origin of four transfers in 2012 and one in at the start of 2013 for a total of several hundreds of millions of dollars," a statement from the prosecutor's office said...............................................Full Article: Source
|