Malaysia aims to recover about $5b foreign assets linked to 1MDB

A construction worker walks past a 1Malaysia Development Berhad (1MDB) billboard at the Tun Razak Exchange development in Kuala Lumpur, Malaysia February 3, 2016. REUTERS/Olivia Harris/File Photo

Malaysia is looking to recover about $5 billion worth of foreign assets linked to state fund 1MDB, set up in 2009 by then prime minister Najib Razak and the subject of money laundering probes, an anti-graft official said on Friday.

Malaysian and U.S. investigators believe about $4.5 billion was misappropriated from 1Malaysia Development Berhad (1MDB) by high-level officials of the fund and associates between 2009 and 2014.

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