Justice Department files lawsuits in connection with 1MDB probe

July 20, 2016 12:51 PM

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Justice Department files lawsuits in connection with 1MDB probe

The U.S. Department of Justice filed lawsuits on Wednesday seeking to seize dozens of properties tied to Malaysian state fund 1Malaysia Development Berhad (1MDB), saying that over $3.5 billion was misappropriated from the institution.

The lawsuits, filed in Los Angeles, seek to seize assets "involved in and traceable to an international conspiracy to launder money misappropriated from 1MDB".

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