Singapore Cites Three Banks in Inquiry Into Malaysia’s 1MDB Fund

The findings by Singapore came a day after the United States Justice Department said it had frozen properties and other assets worth more than $1 billion that had been acquired with money stolen from the Malaysian fund – called 1Malaysia Development Berhad, or 1MDB – by people close to Malaysia’s embattled prime minister, Najib Razak. As part of the American case, Swiss authorities are seizing several paintings, including one by Vincent van Gogh and two by Claude Monet. The Federal Office of Justice in Switzerland would not elaborate further, saying the operation was continuing.
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