Malaysia 1MDB Scandal Is ‘Kleptocracy at Its Worst,’ Sessions Says
- Some $4.5 billion were allegedly laundered via opaque deals
- Justice seeking to seize $1.8 billion in assets linked to 1MDB
Student activists march during a protest over a financial scandal involving 1MDB in Kuala Lumpur on Aug. 27, 2016.
Photographer: Mohd Rasfan/AFP/Getty ImagesThis article is for subscribers only.
The alleged corruption related to a Malaysian state investment fund is “kleptocracy at its worst” and the U.S. is working to provide justice to the victims, Attorney General Jeff Sessions said on Monday.
1Malaysia Development Bhd. was created by the government of the Southeast Asian nation to promote long-term economic growth for the benefit of the people, but allegedly corrupt officials and their associates reportedly used the funds for a lavish spending spree, according to a transcript of Sessions’ speech posted on the Department of Justice website.