Singapore Seizes S$240 Million in Assets Related to 1MDB Probe
- Move comes as U.S. seeks also to seize assets linked to 1MDB
- Malaysia government says it will cooperate with probes
Singapore Seizes $175M in 1MDB Probe
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Singapore said it seized S$240 million in assets from individuals linked to alleged fraud at a Malaysian state investment company as the net tightens on those believed to have siphoned money from the fund.
Bank accounts belonging to various people were seized and dealings in properties belonging to them curtailed, the Monetary Authority of Singapore said in a statement Thursday. About S$120 million in the accounts and properties belonged to Malaysian financier Low Taek Jho and his immediate family, it said.