Bank accounts seized in Singapore over Malaysia’s ‘1MDB scandal’

‘A large number of bank accounts have been seized by the Singaporean government over alleged crimes linked to the Malaysian government.

The Monetary Authority of Singapore and the Commercial Affairs Department announced in a joint statement on Monday that since mid-2015 investigations have been underway to find “possible money laundering and other offenses carried out in Singapore” in connection with an investment fund belonging to the Malaysian government.

A sum of four billion dollars is reportedly missing from the 1Malaysia Development Berhad, also known as the 1MDB fund, earmarked for investment in economic and social development projects in Malaysia.’

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