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Wells Fargo files claim in 1MDB-related Park Lane Hotel forfeiture

( March 23, 2017, 23:32 GMT | Official Statement) -- MLex Summary: Wells Fargo Bank has filed a claim to the Park Lane Hotel in the forfeiture action brought by US Department of Justice seeking to reclaim funds allegedly misappropriated from Malaysian sovereign development fund 1MDB.  Wells Fargo said that is seeking to protect its interest in the senior loan used to purchase the New York hotel; the outstanding balance is now $266.7 million.  DOJ alleges that Malaysian financier Jho Low acquired an interest in the hotel with funds misappropriated from 1MDB and is seeking to seize that interest.See document below....

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