1MDB-linked offshore companies repurposed to recoup stolen funds, says report


OFFSHORE companies linked to 1Malaysia Development Bhd that were used for siphoning off funds from the state investment firm are being repurposed to trace and recover the stolen money, says a media report. – AFP pic, April 7, 2022.

OFFSHORE companies linked to 1Malaysia Development Bhd (1MDB) that were used for siphoning off funds from the state investment firm are being repurposed to trace and recover the stolen money, Bloomberg reported today.

Three of the companies, based in the British Virgin Islands, are “overseen by administrators appointed by the Malaysian government”, the report said.


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