Malaysia
1MDB says yet to be contacted by Singapore
A man covers his mouth as he walks past a 1Malaysia Development Berhad (1MDB) billboard at the funds flagship Tun Razak Exchange development in Kuala Lumpur, February 27, 2015. u00e2u20acu201d Reuters pic

KUALA LUMPUR, Feb 1 — 1 Malaysia Development Berhad (1MDB) said today that it has yet to be contacted by Singaporean authorities after they seized bank accounts in an investigation on money laundering linked to the Malaysian state investment fund.

“As we have previously stated, 1MDB has not been contacted by any foreign legal authorities on any matters relating to the company.

“1MDB remains committed to fully cooperating with any lawful authority and investigation, subject to advice from the relevant domestic lawful authorities, and in accordance with international protocols governing such matters,” 1MDB said in a statement.

International newswire Reuters reported earlier today the Monetary Authority of Singapore and Singapore’s Commercial Affairs Department, the neighbouring country’s white-collar crime agency, as saying that they have seized “a large number of” bank accounts, besides continuing to seek information from several financial institutions and interviewing various people.

Singaporean police reportedly said last July that they had frozen two bank accounts linked to the 1MDB investigation.

The joint statement by the two Singaporean agencies today came after Switzerland’s Attorney-General Michael Lauber said Friday that a criminal investigation on 1MDB revealed that about US$4 billion (RM16.6 billion) was suspected to have been misappropriated from Malaysian state companies.

The Swiss AG’s office told Malay Mail Online that it would hand over to Malaysia documents on its 1MDB investigation in the “coming days”.

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