The US FBI has launched an investigation into allegations of money-laundering at troubled Malaysian state fund 1MDB, the Wall Street Journal (WSJ) reported yesterday, citing an unidentified source.
The scope of the probe into the debt-laden 1Malaysia Development Berhad (1MDB) was not clear, said the newspaper, which cited “a person familiar with the matter.”
Neither the FBI nor 1MDB responded to a request for comment.
The reported FBI investigation comes shortly after a former member of Malaysia’s ruling party, Khairuddin Abu Hassan, was arrested just before travelling to the US where he planned to make a police complaint and urge US authorities to look into the allegations of money-laundering at 1MDB.
Malaysian state news agency Bernama late on Saturday reported that as of that day Khairuddin was being held for six days in connection with activities detrimental to parliamentary democracy, citing a police director.
1MDB’s advisory board is chaired by Malaysian Prime Minister Najib Razak. The fund has been dogged by controversy over its US$11 billion debt and alleged financial mismanagement.
A series of international investigations are underway as the scandal surrounding the fund widens.
Khairuddin has lodged complaints in Switzerland and Hong Kong regarding banking activity involving 1MDB, which has been linked to various individuals under investigation by Switzerland for suspected corruption.
Swiss authorities said this month they had frozen funds in Swiss banks amid investigations into 1MDB. Hong Kong authorities also said they were investigating a complaint related to the firm.
The WSJ reported in July that investigators looking into 1MDB had found that almost US$700 million was transferred into Najib’s personal bank account.
The prime minister has denied taking money from 1MDB or anywhere else for personal gain and Malaysia’s anti-graft agency declared the funds a donation.
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