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1MDB asset recovery: MACC confirms investigation, denies violation of laws

07 Oct 2023 09:08am
The MACC is investigating several individuals suspected of being involved in corruption and money laundering during the government’s efforts to recover assets related to 1MDB. - FILE PIX by Bernama
The MACC is investigating several individuals suspected of being involved in corruption and money laundering during the government’s efforts to recover assets related to 1MDB. - FILE PIX by Bernama

KUALA LUMPUR - The Malaysian Anti-Corruption Commission (MACC) is investigating several individuals suspected of being involved in corruption and money laundering during the government’s efforts to recover assets related to 1Malaysia Development Bhd (1MDB).

According to an MACC source, one of the individuals is a lawyer alleged to have received a significant amount of money that is said to have been invested in an unlicensed investment company which had been imposed with action from Bank Negara Malaysia in 2021.

The source also said that the lawyer had been appointed by 1MDB to resolve the company’s asset issues with foreign companies, adding that MACC officers went to the law firm involved yesterday to obtain documents related to the probe.

Meanwhile, MACC Chief Commissioner Tan Sri Azam Baki when contacted confirmed that the investigation is being conducted under the MACC Act 2009 as well as the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act (AMLATFPUAA) 2001.

"MACC also denies that the presence of its officers at the law firm’s premises violates any existing laws because the commission adheres to regulations and is aware of the privacy between the lawyer and their clients,” he said.

MACC officers, led by Mohd Farid Ismail, Mohamad Safwan Arbangi and Siti Aida Khairudin asserted the right to search for and seize documents at the law firm. - BERNAMA

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