KUALA LUMPUR: The Malaysian Anti-Corruption Commission (MACC) is intensifying its investigation of an international law firm for alleged involvement in financial transactions suspected to be linked to illicit proceeds from 1Malaysia Development Berhad (1MDB).
Sources said the MACC is seeking additional information in connection with several ongoing 1MDB-related cases, including allegations that the law firm played a role in transactions involving misappropriated funds.
"The firm is believed to have been involved in the diversion of about US$1bil linked to 1MDB, including the transfer of approximately US$700mil to an offshore entity beyond 1MDB’s control," a source said Thursday (Dec 18).
In a related development, the MACC is also investigating and gathering further information on Tang Keng Chee, also known as Casey Tang, a former 1MDB executive director for business development.
He is believed to have links to funds suspected to have been misappropriated in connection with the 1MDB case, the source added.
Sources said the investigations were initiated based on intelligence and information obtained through meetings and discussions with several countries, particularly involving cross-border financial transactions and the role of professional parties in dealings related to 1MDB.
The MACC is also believed to be seeking additional information on several other individuals who are now on its radar as part of efforts to facilitate asset recovery for the country.
