Date
23 July 2017
Malaysian police remove a hard drive and laptops from the offices of 1MDB in Kuala Lumpur earlier this month. Photo: Reuters
Malaysian police remove a hard drive and laptops from the offices of 1MDB in Kuala Lumpur earlier this month. Photo: Reuters

Singapore freezes bank accounts linked to Malaysian 1MDB probe

Singapore police have frozen two bank accounts as part of an investigation linked to Malaysian sovereign wealth fund 1MDB, Reuters reported Wednesday.

The fund is being probed by authorities in Malaysia for financial mismanagement and graft.

“On 15 July 2015, we issued orders under the Criminal Procedure Code to prohibit any dealings in respect of money in two bank accounts that are relevant to the investigation,” Singapore police said in a statement Wednesday.

It did not identify the bank or the accounts in question, because the investigation is continuing.

The Wall Street Journal has reported that investigators looking into 1MDB had traced close to US$700 million of deposits into personal bank accounts belonging to Prime Minister Najib Razak.

Najib denied taking any money for personal gain and said the corruption allegations are part of a malicious campaign to force him out of office.

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