31 May '18, 3am

Malaysia and Singapore Investigators Meet on 1MDB Probe

Malaysian officials investigating state investment company 1MDB reached out to their Singapore counterparts for assistance, as Prime Minister Mahathir Mohamad’s administration acts on a pledge to cooperate with probes underway around the globe. “Our Malaysian counterparts have requested for our assistance in relation to their 1MDB-related investigations,” the Singapore police said Thursday in response to Bloomberg News queries. “We agreed to a meeting in Kuala Lumpur.” The two sides were meeting on Thursday, according to people familiar with the matter who asked not to be identified. Singapore has seized hundreds of millions of dollars in assets and jailed bankers over transactions linked to the scandal-plagued fund. Mahathir, who took power earlier this month, is trying to uncover the extent of alleged embezzlement and money laundering at 1Malaysia Development Bhd., which...

Full article: https://www.bloomberg.com/news/articles/2018-05-31/malays...

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