The U.S. Department of Justice said it will carry on with its probe into the corruption-linked 1MDB fund. The change of government in Kuala Lumpur will now see U.S. and Malaysian authorities work closer together.
U.S. investigators have been hunting down proceeds of the alleged 1MDB fraud to a wide array of purchases including properties in New York, London and Beverly Hills, a private jet, diamond jewelry; and artwork by Jean-Michel Basquiat, Pablo Picasso, Vincent van Gogh and others.
Following the reinstatement of the task force into the 1MDB misconduct, led by former anti-graft officials who stepped down under Najib Razak’s regime, the U.S. justice department updated its position.
Intimidation Threat Removed
«The Department of Justice is committed to ensuring that the United States and its financial system are not threatened by corrupt individuals and kleptocrats who seek to hide their ill-gotten wealth,» a Department of Justice spokesperson said in a statement to «Reuters».
The U.S. filed complaints in 2016 and 2017 seeking to recover more than $1.7 billion in assets linked to funds allegedly expropriated from 1MDB. However witnesses to the alleged siphoning of billions of dollars from the 1MDB fund had previously been too scared to talk to U.S. investigators. This situation may now change.
