Malaysia's 1MDB says it was not contacted in connection with US lawsuit
- Author: Salvatore Jensen Jun 17, 2017,
Jun 17, 2017, 2:50
The latest suit states that about US$4.5 billion was allegedly misappropriated from 1MDB and has the initials MO1 peppered throughout the documents.
The DoJ's move compounded court cases launched past year in which Washington sought to confiscate more than US$1 billion allegedly embezzled by businessmen with political connections in Malaysia, bringing the total amount U.S. officials say was stolen to US$4.5 billion.
In July previous year, DoJ's lawsuits alleged that US$3.5 billion was misappropriated from 1MDB to purchase assets including properties and artwork, according to reports.
"This money financed the lavish lifestyles of the alleged co-conspirators at the expense and detriment of the Malaysian people", acting Assistant Attorney General Kenneth Blanco said Thursday in a statement, WSJ reports.
1MDB's statement follows Attorney-General of Malaysia Tan Sri Mohamed Apandi Ali's statement earlier today when he expressed frustration over DoJ's non-information to the Attorney-General's Chambers regarding the suit. "This suggests a motivation that goes beyond the objective of seizing assets".
Apandi said 1MDB is a Malaysian company and was the subject of several internal investigations, including that of the Malaysian Anti-Corruption Commission, the Auditor General and the Public Accounts Committee of the State. Presently there is still an ongoing investigation conducted by Malaysian police concerning 1MDB, he added.
"Any wrongdoing will be punished and Malaysia will always uphold the rule of law", said Apandi. "Until then, unproven allegations should not be taken as facts", said Tengku Sarifuddin.
"At no point in the civil claims is the Prime Minister named as a defendant or has been alleged to have committed any criminal wrongdoing", he said.
"However, we would welcome such a request in line with our commitment to global cooperation and the fight against money laundering".
The most recent allegations of misappropriation linked with 1Malaysia Development Berhad (1MDB) highlighted by the US' Department of Justice (DoJ) are not backed with proof, the state investment firm said.