Malaysia's 1MDB, former unit seeking recovery of $23 bln in assets

Malaysian state fund 1Malaysia Development Berhad (1MDB) and its former unit SRC International have filed 22 civil suits seeking to recover more than $23 billion in assets from entities and people allegedly involved in defrauding the firms, the finance ministry said on Monday.

Malaysia and U.S. investigators say at least $4.5 billion was stolen from 1MDB between 2009 and 2014, in a wide-ranging scandal that has implicated high-level officials, banks, and financial institutions around the world.