US Moves to Seize $1bn in 1MDB Assets Held in US

Authorities are expected to file civil lawsuits as soon as Wednesday morning seeking to seize more than $1 billion worth of assets, which are expected to include properties and other assets purchased with money allegedly misappropriated from the Malaysian fund, according to people familiar with the matter.

Agents from the Federal Bureau of Investigation’s international corruption unit have also been conducting a wide-ranging criminal investigation into people and institutions connected with 1Malaysia Development Bhd., known as 1MDB, a sovereign-wealth fund set up by Prime Minister Najib Razak in 2009 to drive the country’s economy.

The expected asset seizures would be the U.S. government’s first action tied to the 1MDB investigation. It is unknown what assets will be seized,[…]

U.S. Set to Seize $1 Billion in Assets Tied to Malaysian Fund 1MDB  (WSJ)