US moves to seize another $540 mn in Malaysia’s 1MDB scandal

The US has acted to seize another $540 million in assets, including a luxury yacht, allegedly bought with money stolen from Malaysia’s multibillion-dollar 1MDB fund, a move Kuala Lumpur slammed on Friday as headline-seeking.

Malaysian Prime Minister Najib Razak is battling allegations that huge sums were looted from the state fund he founded, in complex overseas deals that are being investigated by authorities in several countries.

The latest move by US federal prosecutors compounds court cases launched last year in which Washington sought to confiscate more than $1 billion allegedly embezzled by businessmen with political connections in Malaysia — bringing the total amount US officials say was stolen to $4.5 billion.

“This money financed the lavish lifestyles of the alleged co-conspirators at the expense and detriment of the Malaysian people,” acting US Assistant Attorney General…

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