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Monday, July 2, 2018

News: Malaysia 🇲🇾 Freezes 408 Bank Accounts 😱 as Part of State Fund Probe


Malaysia has frozen hundreds of bank accounts believed to be linked to sovereign wealth fund 1MDB, said officials.

The announcement on Monday came as the government stepped up an anti-graft probe that could engulf former Prime Minister Najib Razak.

A special government task force investigating a corruption scandal involving 1MDB said it froze 408 bank accounts containing a total of 1.1bn ringgit ($272m) last week.

"The accounts are believed to be connected with the misappropriation and misuse of 1MDB funds," the task force said in a statement.

"They involved nearly 900 transactions made between March 2011 and September 2015."

The funds in the frozen accounts came from individuals, political parties and non-government organisations, it said without mentioning names.

However, the task force's statement followed local media reports last week that accounts belonging to Najib's political party, the once-powerful United Malays National Organisation (UMNO), had been frozen.



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