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Stolen 1MDB funds used to buy US-based oil company, London property, DOJ lawsuit alleges

By Toh Han Shih ( June 13, 2017, 09:25 GMT | Insight) -- The US Department of Justice has alleged in a civil lawsuit that money stolen from Malaysian state fund 1Malaysia Development Berhad was used to acquire a US-based oil firm and upmarket property in London. The DOJ's suit, filed on June 7, aims to seize 77.5 million pounds ($98.5 million) of properties in London belonging to Malaysian businessman Jho Low, and is part of a wider effort to seize more than  $1 billion of assets which the DOJ alleges were laundered from 1MDB through the US financial system. The US Department of Justice has alleged in a civil lawsuit that money stolen from Malaysian state fund 1Malaysia Development Berhad was used to acquire a US-based oil firm and upmarket property in London....

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