Authorities are intensifying an investigation into an international law firm suspected of involvement in transactions linked to misappropriated 1MDB funds.
KUALA LUMPUR: The Malaysian Anti-Corruption Commission is intensifying its investigation into an international law firm over alleged links to the 1Malaysia Development Berhad scandal.
A MACC source said the firm is suspected of involvement in financial transactions connected to illicit proceeds from 1MDB.
The firm is believed to have been involved in misappropriating USD 1 billion from 1MDB funds.
This included the transfer of about USD 700 million to an offshore entity beyond 1MDB’s control.
The investigation was launched based on information from meetings with several countries.
These discussions involved cross-border financial transactions and the role of professional parties in 1MDB dealings.
MACC is also investigating a former 1MDB Business Development executive director.
The individual is believed to have links to funds suspected of being misappropriated in the case.
The source added that MACC is seeking information on several other individuals for asset recovery.
The commission aims to recover assets for the country.
