Misappropriated 1MDB funds helped finance $2.2b Coastal Energy acquisition in the US

Misappropriated 1MDB funds helped finance $2.2b Coastal Energy acquisition in the US

The 1MDB sign as seen through a car. Photo: Bloomberg TV

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.

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