Department of Justice - US seek to seize $1.3B of stolen 1MBD Malaysia Fund [FULL PRESS CONFERENCE]

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• published: 25 Jul 2016
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The US Justice Department says it is moving to seize more than $US1 billion ($1.34 billion) in assets allegedly tied to corruption at 1MDB, including the rights to Hollywood film The Wolf of Wall Street. They include allegations that $US681 million ($910 million) from a 2013 bond sale by 1MDB was transferred to the account of "Malaysian Official 1", who is described in the lawsuits as a high-ranking official in the Malaysian Government who also held a position of authority with 1MDB. 1MDB, which Mr Najib founded in 2009 shortly after he came to office, is being investigated for money-laundering in at least six countries, including the United States, Singapore and Switzerland. It is the largest set of cases ever brought by the Justice Department's Kleptocracy Asset Recovery Initiative, which seeks the forfeiture of the proceeds of foreign corruption. The lawsuits name Mr Najib's stepson Riza Aziz as a "relevant individual". Mr Aziz is the founder of Red Granite Pictures, which produced the Oscar-nominated film The Wolf of Wall Street. Source: ABC News 24, Department of Justice (USA)