US seeks to recover US$300mil more in 1MDB assets held in Britain

Malaysian and U.S. authorities estimate $4.5 billion was stolen from 1MDB in an elaborate scheme that spanned the globe and implicated high-level officials in the fund, former Malaysian Prime Minister Najib Razak, executives at U.S. bank Goldman Sachs, and others. Najib has denied wrongdoing.

WASHINGTON: The U.S. Department of Justice is seeking to recover $300 million in additional assets allegedly associated with the multibillion-dollar 1MDB scandal, assets it has traced to an escrow account in the United Kingdom, the agency said on Wednesday.

Malaysian and U.S. authorities estimate $4.5 billion was stolen from 1MDB in an elaborate scheme that spanned the globe and implicated high-level officials in the fund, former Malaysian Prime Minister Najib Razak, executives at U.S. bank Goldman Sachs, and others. Najib has denied wrongdoing.