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US Moves to Seize Assets Allegedly Bought with Stolen Malaysian Funds by webdesk@voanews.com (Ken Bredemeier)
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| US Moves to Seize Assets Allegedly Bought with Stolen Malaysian Funds by webdesk@voanews.com (Ken Bredemeier) |
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| Article Posted: 07/20/2016 |
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US Moves to Seize Assets Allegedly Bought with Stolen Malaysian Funds |
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The United States is trying to seize more than a billion dollars’ worth of luxury real estate, artwork and jewelry that authorities allege was bought with assets stolen from a Malaysian state fund.
The U.S. Justice Department filed lawsuits in Los Angeles claiming officials close to embattled Prime Minister Najib Razak diverted more than $3.5 billion from the fund from 2009 to 2013, using money intended for economic development projects in the southeast Asian country to buy the U.S. properties and pay for lavish parties, gambling and entertainers.
The lawsuits did not name Najib, the focus of rising popular discontent amid investigations in Malaysia and elsewhere over the fund he oversees, called 1Malaysia Development Berhad, or 1MBD.
 FILE - Malaysian Prime Minister Najib Razak
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