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Sovereign Wealth Funds Briefing - Categorized | Financials, Fund Management/Administration

US$731m siphoned from 1MDB to ‘Malaysian Official 1′ account, says DOJ

Posted on 22 July 2016

US$731 million was allegedly siphoned from Malaysia’s sovereign wealth fund 1MDB into a bank account owned by the unnamed ‘Malaysian Official 1′, according to the lawsuit filed by the US Department of Justice (DOJ) yesterday.
DOJ did not name ‘Malaysian Official 1’ but described the individual as a “high-ranking official in the Malaysian government who also held a position of authority with 1MDB.” Upon its formation, Malaysian Official 1 assumed a position of authority with 1MDB, said DOJ………………………………………..Full Article: Source


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