The Wall Street Journal points to prosecutor’s statement in Singapore late last week where a related case revealed the investigation into Malaysia’s 1MDB is the largest money laundering case ever undertaken in Singapore.
The story also points to accusations made by the Malaysian Prime Minister that the Wall Street Journal had violated Malaysian secrecy laws in illustrating connections between the 1MDB fund and Jho Low who has been in the news for the last six months as a heavy seller of art at a steep discount from recent purchase prices:
The prosecutors’ comments highlight the scope of alleged misappropriation of funds at the Malaysian state fund, also known as 1Malaysia Development Bhd., which is being investigated in at least six foreign countries including Singapore. The Swiss attorney general’s office said earlier this year it suspected $4 billion had been misappropriated from 1MDB.
1MDB has repeatedly denied wrongdoing and said it has cooperated when contacted by investigators.
Prosecutors: 1MDB Money Laundering Probe Largest Ever in Singapore (WSJ)