Sunday, October 2, 2016

PM says Malaysia will cooperate with US investigation of 1MDB funds

Latest: Corruption and Money Laundering.

PM says Malaysia will cooperate with US investigation of 1MDB funds.

Najib Razak in Berlin , Germany
BERLIN: Malaysian Prime Minister Najib Razak on Tuesday said his country would cooperate with U.S. and other international authorities investigating the misappropriation of funds from a Malaysian state-owned fund that he founded.
"We are equally concerned about good governance in Malaysia and the rule of law," Najib told reporters after a meeting with German Chancellor Angela Merkel, when asked about the international investigations.
"So within the bounds of good governance and the rule of law, Malaysia will do its best to cooperate and to do whatever is necessary."
Najib said he opposed calling early elections before the 2018 deadline, saying such a decision should not be based on "any single factor".
"We rest on our record. We have a strong record and we will continue to tell the Malaysian people that our government is still the best choice," he said.
Malaysian democracy group Bersih is planning a protest rally on Nov. 19 to call for Najib's immediate resignation and an independent investigation into the financial scandal at 1Malaysia Development Berhad (1MDB).
1MDB is a state fund Najib founded in September 2009 to invest in strategic property and energy projects. Najib was the chairman of 1MDB's advisory board until recently.
U.S. prosecutors filed civil lawsuits in July alleging that over US$3.5 billion was defrauded from 1MDB.

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