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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal

White-shoe US law firm linked to over $1bn embezzled from 1MDB

Posted on 29 July 2016

Shearman & Sterling LLP has become embroiled in the US Department of Justice’s largest asset forfeiture case yet connected to the 1Malaysia Development Berhad (1MDB) controversy.
In a scandal that has gripped Malaysia and is seeing investigations commenced in a number of countries including the US and Switzerland, people close to beleaguered Malaysian Prime Minister Najib Razak are alleged to have stolen billions of dollars from the Malaysian sovereign wealth fund………………………………………..Full Article: Source


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