Singapore recovers $11.1m linked to 1MDB Malaysia Fund

September 09, 2018 - 10:33 pm

SINGAPORE (AP) — A Singaporean court has ordered the return of 15.3 million Singapore dollars ($11.1 million) linked to the indebted 1MDB Malaysian state investment fund.

Law firm Tan Rajah & Cheah said Monday that the misappropriated funds were being transferred to a special 1MDB recovery bank account in the Malaysian capital, Kuala Lumpur.

It did not say how many individuals were involved.

Citing an unnamed source, Malaysia's National News Agency Bernama reported in July that the government had appointed the Singapore firm to act against 53 individuals and companies to recover funds belonging to 1MDB.