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Malaysia's top prosecutor studying possible criminal and civil action related to 1MDB probe

Reuters  |  KUALA LUMPUR 

(Reuters) - Malaysia's on Tuesday said his office was studying possible criminal and civil action in the Development Berhad (1MDB) case, after receiving investigation papers on the state fund from the anti-graft agency.

reopened a probe into 1MDB following a stunning election victory last month by 92-year-old Mahathir Mohamad, who has vowed to bring back funds allegedly siphoned from 1MDB and punish those responsible.

Former Najib Razak, who founded 1MDB, is the subject of a money laundering probe. Najib has consistently denied wrongdoing. On Monday he said he did not benefit or steal money from 1MDB.

Najib has given statements to the (MACC) about a transfer of $10.6 million into his from SRC International, a former unit of 1MDB.

The submission of the investigation papers by the MACC to the attorney general's office indicates they may have completed their probe into SRC. It is now up to the country's top to decide if charges need to be filed or further investigations are needed.

"I have appointed a team to study the papers with a view to possibly instituting criminal prosecution, and another to study them with civil proceedings in mind," said in a statement.

The has alleged that more than $4.5 billion was misappropriated from 1MDB, and about $700 million of that went to Najib's

Thomas also said he had signed mutual legal assistance requests from Switzerland, the United States, and UAE regarding the 1MDB probe.

U.S. authorities saw as obstructing the investigation, sources told last week. Swiss said in April 2017 that Malaysian authorities have refused to cooperate.

Mohamed Apandi Ali, Malaysia's previous attorney general, was ordered to go on leave by Mahathir, who has replaced several officials seen as close to Najib.

Earlier on Tuesday, Malaysia's minister said the U.S. to told him assets seized by the as part of its 1MDB probe will be monetised and returned to

(Reporting by A. Ananthalakshmi; Editing by Michael Perry)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, June 12 2018. 16:32 IST
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