1MDB investigation 60% complete, says MACC

PUTRAJAYA: The renewed investigation into the scandal-riddled 1Malaysia Development Bhd (1MDB) fund is 60% complete, says Datuk Seri Azam Baki.  

The Malaysian Anti-Corruption Commission (MACC) deputy chief commissioner said the gathering of evidence and recording of statements in Malaysia have been completed, and now the Commission is looking to gather evidence overseas.

“So we are about 60% complete. We still have to collect evidence and record statements from other countries. Give us time.  

“Among the countries that we have to look at as part of the investigation are the United States and Singapore,” he told a press conference on Thursday (Aug 30).  

The MACC has already issued arrest warrants for two former 1MDB executives, according to Bloomberg.  

Quoting sources, the US portal said the MACC was seeking 1MDB’s former general counsel Jasmine Loo Ai Swan and former executive director Casey Tang Keng Chee.  

The two were summoned in June to help with the case on former 1MDB subsidiary SRC International, along with two other former 1MDB officials, Geh Choh Heng and Eric Tan Kim Loong.  

The investigation has also seen former prime minister Datuk Seri Najib Tun Razak being charged with several counts of criminal breach of trust and corruption, to which he has claimed trial.  

Police say they have since seized more than RM1.1bil in cash and items linked to the case.  

Singapore had earlier sought Interpol’s assistance to locate Tan in 2016, along with financier Low Taek Jho, also known as Jho Low, whom US investigators say was the central figure in the global, multibillion-dollar scandal.  

Bloomberg also reported that Loo, a Malaysian who studied law in the United Kingdom, was dubbed “1MDB Officer 3” by US investigators.  

She was also reportedly 1MDB’s liaison with Goldman Sachs Group Inc, the bank that helped it raise US$6.5bil (RM26.4bil), for which she received a US$5mil (RM20.3mil) transfer among dozens of payments in a scheme that ultimately drained billions of dollars from the state fund.  

Tang has been involved with 1MDB from when it was still known as the Terengganu Investment Authority until 2011.

It isn’t clear when Loo left the fund.

Bank Negara Malaysia summoned both of them for questioning in 2015, but neither appeared.