Malaysia is pursuing civil action to recover about 4 billion ringgit (US$954.65 million) of funds disbursed by a former subsidiary of 1MDB, a ...
KUALA LUMPUR: Malaysia is pursuing civil action to recover about 4 billion ringgit of funds disbursed by a former subsidiary of 1MDB, a now-defunct state fund under investigation for money laundering, the finance minister said on Wednesday.
"Considering a large portion of the funds had been used across the world, the government is taking the necessary steps to repatriate as much of the 4 billion ringgit," Finance Minister Lim Guan Eng said in a statement.BSI Bank in Switzerland and Julius Baer in Hong Kong are among firms that received the funds from SRC, Lim said.
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