Singapore seizes bank accounts as part of 1MDB investigation

On Jan 30, Mohamed Apandi gave assurance that the AG Chambers would cooperate with Swiss chief prosecutor, Martin Lauber that had officially seek Malaysia's assistance in the probe that the US$4 billion (RM16.8 billion) may have been misappropriated by 1MDB.

"In connection with these investigations, we have sought and are continuing to seek information from several financial institutions, are interviewing various individuals, and have seized a large number of bank accounts", it said.

Investigations into 1MDB were separate from probes into the bank deposits, Apandi said on Saturday.

The Monetary Authority of Singapore and the Commercial Affairs Department, in a joint statement, said they were cooperating with investigations being carried out by authorities in the U.S., Malaysia, and Switzerland.

The state investment firm later said they have yet to be contacted by the Singaporean authorities.

"To date, however, the Malaysian companies concerned have made no comment on the losses they are believed to have incurred", the attorney general's statement said.

Some of the money, the office of Michael Lauber said, had been transferred to Swiss accounts held by Malaysian former public officials and current and former public officials from the United Arab Emirates.

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― File picKUALA LUMPUR, Feb 2 ― Prime Minister Datuk Seri Najib Razak is not one of the suspects in Switzerland's criminal investigation on 1Malaysia Development Berhad (1MDB), the Swiss Attorney-General's Office said.

The allegation came as an escalation of investigations around 1MDB, which was formed by Malaysian Prime Minister Najib Razak in 2009.

In its statement, the Swiss prosecutor's office said Lauber had discussed the 1MDB case with his Malaysian counterpart at a meeting in Zurich in September.

Swiss authorities in August opened criminal proceedings against two executives of 1MDB and what it classified as "persons unknown" on suspicions of bribery of foreign public officials, misconduct in public office, money laundering and criminal mismanagement.

Malaysia's anti-corruption commission said it would seek a review of the attorney-general's decision.

Najib has maintained the funds were not used for private benefit, with $US620 million later returned to the Saudi donors, although there hasn't been a clear explanation as to what the rest was spent on or where that money is now.

Najib and 1MDB have denied any wrongdoing, and the fund says that it is cooperating with Malaysian authorities.



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