Malaysian fund pilfering claim shines light on law firm’s role

Malaysian fund pilfering claim shines light on law firm’s role

A man walks past a 1 Malaysia Development Berhad (1MDB) billboard at the funds flagship Tun Razak Exchange development in Kuala Lumpur, REUTERS/Olivia Harris

When U.S. prosecutors moved this week to seize $1 billion in assets they say were stolen from a Malaysian development fund, they detailed a money flow through a New York law firm that renews questions about whether a lack of regulations on lawyers encourages money laundering by their clients.

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