U.S. Seeks to Seize $1 Billion Assets Tied to 1MDB, NYT Says
- Asset seizure may be largest confiscation by Justice Dept
- 1MDB at center of global probes into alleged money laundering
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U.S. federal prosecutors plan to seek permission as early as Wednesday to seize more than $1 billion in assets purchased with money allegedly misappropriated from a Malaysian state investment company, the New York Times reported.
The Justice Department is leading the potential asset seizure that it will allege was laundered in the U.S., and which would be its largest such case, the paper said, citing an unidentified person familiar with the plan. Money said to have been embezzled from 1Malaysia Development Bhd. was hidden in the U.S. in real estate, art and other luxury goods, the New York Times said.