BREAKING NEWS

BREAKING NEWS

U.S. seeks to recover $38 million in assets from 1MDB case

U.S. seeks to recover $38 million in assets from 1MDB case
FILE PHOTO: Men walk past a 1Malaysia Development Berhad (1MDB) billboard at the fund's flagship Tun Razak Exchange development in Kuala Lumpur March 1, 2015. REUTERS/Olivia Harris/File Photo -
@ Copyright :
Olivia Harris(Reuters)
Text size Aa Aa

WASHINGTON (Reuters) - The U.S. Justice Department on Friday said it had filed complaints seeking forfeiture and recovery of approximately $38 million (29 million pounds) in assets associated with its 1Malaysia Development Berhard, or 1MDB, case, bringing the assets now subject to forfeiture to a total of approximately $1.7 billion.

“These new lawsuits target assets collected by corrupt officials and their associates through a massive scheme that stole billions of dollars from the people of Malaysia and laundered the proceeds across the world,” U.S. Attorney Nick Hanna said in a statement.

(Reporting by Lisa Lambert; editing by Jonathan Oatis)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.