Tags: APFN | AS | Malaysia | Corruption

Malaysia Fines 80 People, Groups for Alleged 1MDB Payments

Malaysia Fines 80 People, Groups for Alleged 1MDB Payments

Monday, 07 October 2019 01:38 AM

KUALA LUMPUR, Malaysia (AP) — Malaysia has ordered 80 people and groups to pay fines totaling about $100 million for allegedly receiving funds from the 1MDB state investment fund.

Among those ordered to pay the fines in an announcement Monday was a brother of former Prime Minister Najib Razak.

Najib faces 42 charges of corruption, abuse of power and money laundering in five separate criminal cases linked to the multibillion-dollar looting of 1MDB.

Public anger over the alleged corruption contributed to the shocking election defeat of Najib's long-ruling coalition in May 2018.

The head of the Malaysian Anti-Corruption Commission, Latheefa Koya, told reporters the fines could total as much as 2.5 times the amount the people and groups allegedly received from 1MBD.

She said the fines totaled about 420 million Malaysian ringgit ($100 million).

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Malaysia has ordered 80 people and groups to pay fines totaling about $100 million for allegedly receiving funds from the 1MDB state investment fund.Among those ordered to pay the fines in an announcement Monday was a brother of former Prime Minister Najib Razak.Najib faces...
APFN,AS,Malaysia,Corruption
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2019-38-07
Monday, 07 October 2019 01:38 AM
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