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MACC slaps compound notice on 80 in bid to recover 1MDB funds

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The individuals and companies are required to repay the money or to contest the notice in court. FMTNews

PUTRAJAYA: The Malaysian Anti-Corruption Commission has issued a compound notice to 80 individuals and companies said to have benefited millions of ringgit from state investment fund 1MDB.

The notice was issued under Section 92 of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001. “We hope to recover as much money as possible linked to the sovereign wealth fund,” MACC chief commissioner Latheefa Koya said here today. The individuals and entities in question are believed to have received up to RM420 million from 1MDB.They are required to pay up within two weeks or to contest the notice in the Federal Court.

 

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