A committee of the Malaysian parliament will reopen an investigation into scandal-ridden 1MDB state fund. The earlier probe had been closed in 2016.
Malaysia isn’t done with looking into alleged wrongdoing of its state fund, 1MDB. After the surprise election of Prime Minister Mahathir Mohamad in May the new government has been quick to live up to its election promise to recover funds it said were embezzled by the previous government and allies.
The Public Accounts Committee that had investigated transactions covering some $4.2 billion on Thursday decided to reopen its probe it had concluded in 2016, «Bloomberg» reported. Lawmakers passed a motion by Finance Minister Lim Guan Eng, which wants to shed more light on alleged wrongdoing.
Innocence Claimed
The country’s anti-corruption authority and police also have reopened investigations and the finance ministry has commissioned PricewaterhouseCoopers to audit the 1MDB books.
Ex-Prime Minister Najib Razak has maintained his innocence against claims that he had unduly profited from the fund.
