Malaysian officials investigating the state investment company 1MDB meet with investigators from Singapore, people familiar with the matter said, and Prime Minister Mahathir Mohamad's government will cooperate with probes around the world.
The two sides gathered in Kuala Lumpur on Thursday, after the people who asked not to be identified because the meetings were private. Singapore Seized Millions of Dollars and Imprisoned Bankers on Transaction Related to Scandal-Infested Funds
A member of the Malaysian 1MDB Task Force used to coordinate the probe could not answer immediately by phone. A spokesman for the Malaysian Anti-Graft Commission refused to comment when he was asked to confirm the meeting. The police in Singapore could not confirm the meeting immediately.
Mahathir, who came to power earlier this month, attempts to uncover the scale of alleged embezzlement and money laundering at 1
Malaysia asks a $ 8.3 billion question about 1MDB. Here's what we know
A cooperative Malaysia could help investigators around the world work together as billions were embezzled and laundered by major financial centers in the US, Europe and Asia to fund what the US said they did their employees were consumed by corrupt officials and government employees. Najib's government and 1MDB had repeatedly insisted that all their funds be booked.
Members of the 1MDB working group in Malaysia met with officials from the FBI and the Ministry of Justice last week to discuss the focus and direction of the probes. Swiss prosecutors have said that they want to begin discussions with Malaysian counterparts as soon as possible in order to better coordinate various criminal probes in the extensive case.
Singapore Crime Busters: 1MDB to Penny Stocks: QuickTake
In recent years, Singapore has convicted two Swiss private banks to penalize other large banks, seize assets and at least eight people from the financial sector for their actions in 1MDB transactions. Singapore authorities said they had worked intensively with their Malaysian counterparts on earlier requests for information related to 1MDB transactions this month.
The prosecutor in Singapore has called 1MDB the biggest and most complex money laundering case. They said that its banking and financial systems were used as billions of dollars of revenue diverted from 1MDB, backed by fund officials and city-state bankers who ignored suspicious and risky transactions for their own purposes.
– With the support of Anisah Shukry and Pooi Koon Chong