Asia

Malaysia says Singapore has returned $22 million in 1MDB funds

KUALA LUMPUR (REUTERS) – Singapore has recently returned to Malaysia about US$16.3 million (S$22 million) linked to a multibillion-dollar scandal at 1Malaysia Development Berhad (1MDB), Malaysia’s anti-graft agency said on Friday (Nov 19).

The authorities in the United States say that about US$4.5 billion was siphoned from the state fund between 2009 and 2014, in a globe-spanning theft that has implicated high-ranking officials and financial institutions in multiple countries.

The Malaysian government has said billions more remain unaccounted for.

Malaysia has recovered about RM20.5 billion (S$6.7 billion) in 1MDB assets so far, the Malaysian Anti Corruption Commission said in a statement.

Efforts to recover more are ongoing in places including Switzerland, Kuwait, Mauritius, Cyprus and Hong Kong, it added.

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