Malaysiakini News

Singapore seizes bank accounts in 1MDB probe

Reuters  |  Published:  |  Modified:

Singapore said today it has seized a large number of bank accounts in connection with possible money-laundering offences related to investigations into alleged financial mismanagement at Malaysian state investor 1Malaysia Development Berhad (1MDB).

Singapore is cooperating with authorities in Malaysia, Switzerland and the United States on the investigations into 1MDB, the Monetary Authority of Singapore and the Commercial Affairs Department, the city-state’s white collar police, said in a statement.

“In connection with these investigations, we have sought and are continuing to seek information from several financial institutions, are interviewing various individuals, and have seized a large number of bank accounts,” the two agencies said in the statement.

The statement came after Switzerland’s chief prosecutor said last week a criminal investigation into 1MDB had revealed that about US$4 billion (RM16.6 billion) appeared to have been misappropriated from Malaysian state companies.

1MDB, whose advisory board is chaired by Malaysian Prime Minister Najib Abdul Razak, has been investigated by Malaysian authorities following accusations of financial mismanagement and graft. 1MDB has denied these allegations.

Attorney-general Mohamed Apandi Ali last week cleared Najib of any criminal offences or corruption and said he was closing the investigations into it.

Najib was buffeted last year by allegations of graft and mismanagement at the debt-laden state fund and by a revelation that about $681 million was deposited into his personal bank account.

Najib denied any wrongdoing.

Apandi said the US$681 million transfer to Najib’s account was a gift from Saudi Arabia’s royal family, and said no further action needed to be taken on the matter.

- Reuters

Related stories

Swiss AG's office won't get dragged into Zahid's 'politics'

As the scandal gets worse, M’sians are worst affected

Impossible to get national life back on track

With Donor-gate, AG has opened Pandora's Box of repercussions

'Aim for Malaysia to be in top 30 in CPI is a fantasy'

Did Apandi try to stop Swiss probe of 1MDB?

No political will to get to bottom of 1MDB crisis

'M'sia to get Swiss evidence on 1MDB in coming days'

No comment, our AG is independent: Swiss embassy

Don’t interfere in AG’s job, MP tells Ahmad Zahid

'AG must charge SRC officials who transferred funds'

Khairuddin to lodge MACC report against AG

Sign in


Welcome back,

Your subscription expires on
  

Your subscription will expire soon, kindly renew before
  

Your subscription is expired
  Click here to renew

You are not subscribed to any subscription package
  Click here to subscribe now

Any questions?
  Email: [email protected]
  Call: +603-777-00000

Renew