US announces $49m settlement in Malaysia 1MDB scandal

Washington (AFP) – US authorities have reached a deal to recover another $49 million in assets bought with money looted from Malaysia’s 1MDB state investment fund and laundered through the global financial system.Billions of dollars were plundered from the sovereign wealth fund and spent on everything from a luxury yacht to artwork in a fraud allegedly involving former Malaysian premier Najib Razak and his inner circle.Najib was ejected in 2018 elections largely due to public anger over the scandal and is now facing trial over his involvement in the theft. The US Justice Department says it has…

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