Malaysia rejects US claims over assets said stolen from 1MDB
KUALA LUMPUR, Malaysia — A Malaysian sovereign wealth fund has rejected U.S. Justice Department allegations over money laundering and alleged theft of a treasure trove of assets including diamonds, a yacht and private jet and penthouse apartments.
The Malaysian government-controlled fund known informally as 1MDB and other officials in Kuala Lumpur insisted Friday that there was no proof linking the fund to such crimes.
On Thursday, the U.S. Justice Department filed a civil case seeking recovery of $540 million in assets that it says were stolen from 1MDB, a fund intended to promote economic development projects. Overall, the Justice Department alleges that more than $4.5 billion has been stolen from the fund.
In a 250-page filing for the U.S. District Court in Central California, the Justice Department outlined in detail the allegations of a complex money laundering scheme intended to enrich top-level officials of the fund, including some close to Malaysian Prime Minister Najib Razak.