Malaysia freezes hundreds of bank accounts linked to 1MDB

03 Jul, 2018

Malaysia has frozen hundreds of bank accounts believed linked to sovereign wealth fund 1MDB, officials said Monday, as they stepped up an anti-graft probe that could engulf former prime minister Najib Razak.
A special government task force investigating a corruption scandal involving 1MDB said it froze 408 bank accounts containing a total 1.1 billion ringgit ($272 million) last week.
"The accounts are believed to be connected with the misappropriation and misuse of 1MDB funds," the task force said in a statement.
"They involved nearly 900 transactions made between March 2011 and September 2015."
The funds in the frozen accounts came from individuals, political parties and non-government organisations, it said without mentioning names.
However, the task force's statement followed local media reports last week that accounts belonging Najib's political party, the once-powerful United Malays National Organisation (UMNO), had been frozen.

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