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HK bank accounts of several individuals frozen in 1MDB probe
Published:  May 4, 2016 9:00 AM
Updated: 2:06 AM

The Hong Kong bank accounts of several individuals have been frozen amid investigations around the world into 1Malaysia Development Bhd (1MDB).

Citing sources who declined to be named, New York-based financial media company Bloomberg reported that the unnamed individuals are being investigated by countries outside of Malaysia.

However, it is not clear as to whether the Hong Kong authorities had ordered for the accounts to be frozen or if the banks had acted on their own volition.

Meanwhile, Hong Kong’s anti-corruption agency and the police said they do not comment on individual cases.

In September last year, Hong Kong police confirmed that investigations were underway into a series of deposits linked to Prime Minister Najib Abdul Razak.

This, reported the Financial Times, was with regard to bank deposits of more than US$250 million allegedly made at a Credit Suisse branch there.

1MDB has been the subject of various investigations, from Singapore to Switzerland, and was last week declared in default after it failed to pay a US$50.3 million debt payment.

Najib, who chairs the 1MDB advisory board, has faced calls for his resignation, primarily from his number one critic, former prime minister Dr Mahathir Mohamad. Najib has also consistently denied any wrongdoing.

Attorney-general Mohamed Apandi Ali in January similarly cleared Najib of any wrongdoing in relation to the RM2.6 billion donation and on the case of SRC International.

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