All actions taken, 1MDB case closed – Bank Negara

 |Aug 12, 2016

 

BNM have taken necessary action against 1MDB as stipulated under the law and subsequently closing the investigations.
BNM have taken necessary action against 1MDB as stipulated under the law and subsequently closing the investigations.

Bank Negara Malaysia (BNM) has completed its investigation and taken all the necessary actions against 1Malaysia Development Bhd (1MDB) said its governor Muhammad Ibrahim.

Speaking to reporters here in Kuala Lumpur, Muhammad said that BNM had completed its investigation based on all the available information which aided the investigation.

He added that BNM had taken necessary action against 1MDB as stipulated under the law and subsequently closing the investigations.

Last month US Department of Justice (DOJ) announced the filing of civil forfeiture complaints seeking the forfeiture and recovery of more than $1 billion in assets associated with an international conspiracy to launder funds misappropriated from a Malaysian sovereign wealth fund.

The US DOJ  lawsuits also seek to seize 17 assets seeks to seize 17 assets including luxury properties and a jet, and also named the producers of the blockbuster film ‘The Wolf of Wall Street’.

When asked on his reaction towards the DOJ filing in California court, Muhammad said BNM would be guided by international protocols and would extend its cooperation with international investigation bodies if there was a need or being approached by them.

In April, BNM issued a penalty to 1MDB for its failure to fully comply with directions it had issued under the Financial Services Act 2013.

Thereafter in May, 1MDB announced to have fully settled an undisclosed sum of the fine.