By BRADLEY HOPE
Wall Street Journal
July 20, 2016
Authorities are expected to file civil lawsuits as soon as Wednesday
Federal prosecutors are poised to launch one of the largest asset seizures in U.S. history as they step up their investigation into billions of dollars siphoned away from a Malaysian government investment fund, according to people familiar with the matter.
Authorities are expected to file civil lawsuits as soon as Wednesday morning seeking to seize assets, which are expected to include properties and other assets purchased with money allegedly misappropriated from the Malaysian fund, according to people familiar with the matter.
The Wall Street Journal has reported that people linked to the fund have invested millions of dollars in real estate and businesses in the U.S.
Agents from the Federal Bureau of Investigation’s international corruption unit have also been conducting a wide-ranging criminal investigation into people and institutions connected with 1Malaysia Development Bhd., known as 1MDB, a sovereign-wealth fund set up by Prime Minister Najib Razak in 2009 to drive the country’s economy. Continue reading “U.S. Readies Push to Seize Assets Tied to Malaysian Fund 1MDB”