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

U.S. authorities say about $4.5 billion was siphoned from 1Malaysia Development Berhad (1MDB) between 2009 and 2014, in a globe-spanning theft that has implicated high-ranking officials and financial institutions in multiple countries. Malaysia has said billions more remain unaccounted for.


Reuters | Kuala Lumpur | Updated: 19-11-2021 10:03 IST | Created: 19-11-2021 10:03 IST
Malaysia says Singapore has returned $16.3 million in 1MDB funds
  • Country:
  • Malaysia

Singapore has recently returned to Malaysia about $16.3 million linked to a multibillion-dollar scandal at state fund 1MDB, Malaysia's anti-graft agency said on Friday. U.S. authorities say about $4.5 billion was siphoned from 1Malaysia Development Berhad (1MDB) between 2009 and 2014, in a globe-spanning theft that has implicated high-ranking officials and financial institutions in multiple countries.

Malaysia has said billions more remain unaccounted for. Malaysia has recovered about 20.5 billion ringgit ($4.90 billion) in 1MDB assets so far, the Malaysian Anti Corruption Commission said in a statement.

Efforts to recover more are ongoing, in countries including Switzerland, Kuwait, Mauritius, Cyprus, and Hong Kong, it added. ($1 = 4.1810 ringgit)

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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