Friday, November 4, 2016

Malaysia Auditors Find Nothing Suspicious in 1MDB’s Finances.

Latest: Corruption and Money Laundering.

Malaysia Auditors Find Nothing Suspicious in 1MDB’s Finances.



An audit of Malaysia’s troubled state investment company didn’t find any suspicious activity, providing a reprieve for Prime Minister Najib Razak as he fends off claims that money connected to the firm may have ended up in his own bank accounts.
While the investigation continues, and the Auditor General’s office told lawmakers that 1Malaysia Development Bhd. didn’t hand over all the requested documents related to its finances, its initial report didn’t turn up any wrongdoing.
There are multiple probes under way into debt-ridden 1MDB, with a separate task force raiding its offices this week as it examines claims of a money trail that apparently led to Najib’s accounts. The crisis is the biggest to hit the premier since he came to power in 2009, adding to investor concern and weakness in local markets. Najib says the allegations are political sabotage.
“This is an interim report and there is nothing suspicious at this moment,” Public Accounts Committee Chairman Nur Jazlan Mohamed told reporters. “It is still too early to come to any conclusion as the A-G will take till the end of the year to complete his work.” Najib ordered the 1MDB audit in March.
“There have been several documents which have not been forthcoming from 1MDB connected to investment agreements and bank transfers,” Nur Jazlan said after speaking to Auditor General Ambrin Buang. “There were some hindrances faced by the A-G.”

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