Kuala Lumpur
US authorities are reportedly looking into 1MDB-related fund flows, while Swiss, British, Singaporean and Hong Kong authorities also are scrutinising them. Najib,62, has been under fire over allegations that billions of dollars were stolen from 1MDB, the now struggling state firm he founded, and his acceptance of a $681 million overseas payment. Reports have emerged of the luxurious lifestyles, lavish spending and jet-set travel arrangements of his family, stoking calls for his resignation.
The Luxembourg prosecutor’s office said that it had launched the probe “following revelations about the alleged diversion of funds from 1MDB”. It said the decision to task an examining magistrate with the probe was taken “after concrete indications” that public money had been diverted via offshore companies with accounts in Singapore, Switzerland and Luxembourg.
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