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Malaysia says Singapore has returned $16.3 million in 1MDB funds -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: A billboard advertising 1Malaysia Development Berhad (1MDB), is seen by traffic at Tun Razak Exchange, Kuala Lumpur Malaysia. July 6, 2015. REUTERS/Olivia Harris/File Photograph

KUALA LUMPUR, (Reuters) – Singapore recently paid Malaysia $16.3 million in connection to a multibillion dollar scandal at 1MDB state fund. Malaysia’s anti-graft office said Friday.

U.S. officials claim that $4.5 billion in 1Malaysia Development Berhad (1MDB), was stolen between 2009-2014 in an international theft that involved high-ranking officials in several countries and institutions.

Malaysia claims that billions more are still unaccounted for.

Malaysia’s Anti Corruption Commission stated in a statement that Malaysia had so far recovered approximately 20.5 billion Ringgit (or $4.90 billion) from 1MDB assets.

It said that efforts to recuperate more money are being made in several countries, including Switzerland, Kuwait and Mauritius as well as Hong Kong.

($1 = 4.1810 ringgit)

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