Malaysia's State-Owned Investment Fund, Ex-Unit Sue to Recoup Billions
Voice of America
Malaysia’s state-owned 1MDB investment fund and a former unit have filed nearly two dozen civil lawsuits seeking $23 billion in assets allegedly looted from the two entities.
In a statement Monday, the finance ministry said 1MDB has filed six lawsuits against 25 people and nine entities, including two foreign financial institutions. The ministry says 1MDB’s former subsidiary, SRC International, has filed 16 lawsuits against 15 people and eight entities. The ministry did not identify the targets. Malaysia recovered nearly $5 billion in assets last August after settlement deals with U.S.-based investment firm Goldman Sachs, Malaysian banking group AmBank and audit firm Deloitte related to the 1MDB scandal. Malaysian and U.S. authorities allege that at least $4.5 billion was looted from 1MDB as part of a wide-ranging embezzlement scheme involving former Prime Minister Najib Razak, who created the fund in 2009, and several cronies.
Albin Kurti, president of the left-wing Vetevendosje! party, makes statements following results of a parliamentary election, in Pristina, Kosovo, Feb. 9, 2025. Supporters of left-wing Vetevendosje! party celebrate following results of a parliamentary election, in Pristina, Kosovo, Feb. 9, 2025.
President Donald Trump speaks to reporters aboard Air Force One as he travels from West Palm Beach, Florida, to New Orleans, Louisiana, Feb. 9, 2025. People ride in the back of a tricycle transporting them from Nuseirat to Gaza City on Feb. 10, 2025 as displaced people return home amid the current ceasefire deal in the war between Israel and Hamas. Displaced Palestinians cross the Netzarim corridor as they make their way to the northern parts of the Gaza Strip on Feb. 9, 2025.
FILE - Tibetan spiritual leader the Dalai Lama presides over a prayer session where a group of Indian devotees prayed for his longevity in Dharamshala, India, Dec. 6, 2024.
FILE - Steam billows from a coal-fired power plant Nov. 18, 2021, in Craig, Colorado.
A staff member takes a blood sample during a free medical check-up for the public at the government-run healthcare center in Jakarta, Indonesia, Feb. 10, 2025.
People carry the coffin of Aga Khan IV and 49th hereditary imam of Shiite Ismaili Muslims, who died Tuesday in Portugal, in Aswan, Egypt, Feb. 9, 2025.
FILE - This handout image posted on the Sudanese Armed Forces's facebook page on Aug. 24, 2024, shows army chief General Abdel Fattah al-Burhan giving a press conference in Port Sudan, in the Red Sea state.
Pope Francis presides over a mass for the jubilee of the armed forces in St. Peter's Square at The Vatican, Feb.9, 2025. Members of the Italian armed forces attend a mass presided over by Pope Francis for the jubilee of the armed forces in St. Peter's Square at The Vatican, Feb.9, 2025.
In this photo released by Xinhua News Agency, rescuers search for victims in the aftermath of a landslide in Junlian county near the city of Yibin in southwestern China's Sichuan Province, Feb. 9, 2025.
A view shows the high voltage substation of Latvian independent power transmission system operator in Rezekne, Latvia, Feb. 8, 2025. A screen near the Energy Museum and Mindaugas Bridge indicates that on Feb. 8 the Baltic States is disconnecting from the Russian electricity grid to synchronize with Continental Europe, in Vilnius, Feb. 4, 2025.
FILE - Gyalo Thondup, elder brother of the Dalai Lama, speaks to media in Dharamshala, India, Nov. 19, 2008.
FILE - Namibian and ruling Swapo party President Sam Nujoma speaks during an election rally in Windhoek, Namibia, Nov. 13, 2004.