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Misappropriated 1MDB funds helped finance $2.2 billion energy firm deal - U.S. lawsuit

Reuters  |  KUALA LUMPUR 

By Rozanna Latiff and Nathan LayneKUALA LUMPUR (Reuters) - Money misappropriated from a Malaysian state fund was used to partly finance the $2.2 billion acquisition of Houston-based Coastal Energy in 2014, the U.S. government alleged in a lawsuit filed last week. Proceeds from the Coastal Energy deal were then used to buy a property in London's glitzy Mayfair district, according to the lawsuit dated June 7. The United States is seeking to seize the London property, along with two others, the document showed.The lawsuit was filed as part of a U.S. Justice Department effort to seize about $1 ...

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First Published: Tue, June 13 2017. 18:00 IST
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