This is the new MLex platform. Existing customers should continue to use the existing MLex platform until migrated.
For any queries, please contact Customer Services or your Account Manager. Dismiss

US recovers another $20 million in embezzled 1MDB funds

( January 17, 2025, 22:07 GMT | Official Statement) -- MLex Summary: The Justice Department today announced that it has reached an agreement to recover an additional $20 million in misappropriated 1Malaysia Development Berhad (1MDB) funds. As alleged in the complaint, tens of millions of dollars in funds misappropriated from 1MDB were paid to companies owned and controlled by Frank White Jr. and others. The unlawful source of these funds was unknown to White at the time of the payment. White has consented to $20 million in forfeiture in this case, all of which derives from these embezzled funds.Statement follows below. Documents attached....

Prepare for tomorrow’s regulatory change, today

MLex identifies risk to business wherever it emerges, with specialist reporters across the globe providing exclusive news and deep-dive analysis on the proposals, probes, enforcement actions and rulings that matter to your organization and clients, now and in the longer term.


Know what others in the room don’t, with features including:

  • Daily newsletters for Antitrust, M&A, Trade, Data Privacy & Security, Technology, AI and more
  • Custom alerts on specific filters including geographies, industries, topics and companies to suit your practice needs
  • Predictive analysis from expert journalists across North America, the UK and Europe, Latin America and Asia-Pacific
  • Curated case files bringing together news, analysis and source documents in a single timeline

Experience MLex today with a 14-day free trial.

Start Free Trial

Already a subscriber? Click here to login

Documents

Related Sections