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Thursday, July 28, 2016
Volume:
32
Issue:
8
Abstract:
On July 20, 2016, U.S. Attorney General Loretta E. Lynch of the U.S. Department of Justice (DOJ) filed a civil complaint seeking to forfeit and recover more than $1 billion in assets associated with an international conspiracy to launder funds stolen from 1 Malaysia Development Berhad, or 1MDB, a company wholly owned by the government of Malaysia. On July 21, 2016, three law enforcement agencies in Singapore announced a forfeiture action and criminal investigations arising out of the 1MDB scandal.