US investigations into the financial exploits of 1Malaysia Development Bhd have intensified, with American investigators now exchanging more information with the Malaysian authorities who have been cooperative since the ousting of the old government, Reuters reports.

Citing sources with direct knowledge of the probe, the report said the Federal Bureau of Investigation was confident Malaysia’s new government was more willing to cooperate, and had viewed former prime minister Najib Razak as actively obstructing the investigation into criminal financial wrongdoing linked to the state-owned investment fund.

The sources said US investigations had speeded up since Najib Razak’s shock defeat in the general election.

US prosecutors would also prefer that Malaysia file the charges against any Malaysian official, even though they have considered charging Najib and his associates.

“That’s how it’s supposed to work,” a US law enforcement official said.

The US is one of half a dozen countries to have opened investigations into allegations of embezzling and laundering of money allegedly stolen from 1MDB.

The US and Switzerland have filed reports stating Najib and associates pocketed part of US$4.5 billion allegedly stolen.

Under a new government led by Dr Mahathir Mohamad, Malaysia has pledged to bring to book those responsible for theft of the people’s money, and recover the hundreds of millions confiscated by foreign authorities.

Anti-graft agents have grilled former prime minister Najib and his wife in connection with the case, while Najib’s associate, Low Taek Jho, a financier and alleged mastermind of the scheme to defraud 1MDB, is officially a wanted man. – June 9, 2018.