AGC expresses frustration over 'repeat' of last year's suit by US DoJ

Carla Harmon
June 16, 2017

Legal action is taken by The Justice Department on Thursday to recover about $540 million in assets, which authorities tell were stolen by financiers associated with a sovereign wealth fund that was established by Malaysia's prime minister.

Malaysian company 1Malaysia Development Bhd (1MDB) said it is not a party in the civil lawsuit filed by United States Department of Justice (DoJ).

In July a year ago, DoJ's lawsuits alleged that US$3.5 billion was misappropriated from 1MDB to purchase assets including properties and artwork, according to reports.

In the complaints, which are all civil actions, the Justice Department alleged that more than US$4.5 billion was taken from 1MDB by high-level fund officials and their associates. "We will be looking into them", Khalid said.

"We also found that there was no evidence of any investigation conducted by any law enforcement agency for a variety of jurisdictions showing misused money from 1MDB and that no criminal charges against any individuals for misappropriation of funds from 1MDB (were pursued), "he said in a statement".

He said the probe began past year after the Auditor-General presented a report to the bipartisan parliamentary Public Accounts Committee (PAC).

The government had earlier expressed its concern that the DoJ failed to seek the cooperation from the former or 1MDB over the DoJ's latest lawsuits brought against various assets, it was stated here today. Presently there is still an ongoing investigation conducted by Malaysian police concerning 1MDB, he added.

"As the Prime Minister has always maintained, if any wrongdoing is proven, the law will be enforced without exception", he said.

"This suggests a motivation that goes beyond the objective of seizing assets", he said.

The Prime Minister's Office also responded by saying the unnecessary and gratuitous naming of certain matters and individuals by the DoJ would only open the door to domestic political manipulation and interference.

"We are confident that justice will take its course and Malaysia will continue to cooperate with all willing global agencies".

Other reports by iNewsToday