Malaysia sets up task force to probe 1MDB scandal

Malaysia sets up task force to probe 1MDB scandal

The move follows the announcement from the Prime Minister's office of the rapid formation of the investigation unit to look into any wrongdoing by individuals responsible for the management of the fund, "Business Insider" reports.

Shukri said his agency had been poised to launch a case in 2015 against Najib but had been stopped in its tracks by the sacking of the attorney-general.

Flanked by security guards, Najib entered the Malaysian Anti-Corruption Commission (MACC) headquarters in Kuala Lumpur on Tuesday, moving slowly through a throng of journalists outside the building.

This task force met for the first time on Tuesday and will focus on bringing back funds and assets, as well as taking criminal action on those involved in wrongdoing in 1MDB under various laws including the penal code, according to a statement.

"I'm coming back to finish what I haven't finished", Shukri said. "I never even made a police report", Shukri said.

His press conference came shortly after Najib Razak, the former prime minister who ran the country during the 1MDB scandal, entered the MACC to give a statement.

The money was in addition to about $700 million that USA investigators said ended in Najib's bank account. "Instead we were accused of bringing down the country, we were accused of being traitors", Shukri said.

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Now answering to a different prime minister, the MACC has reopened its investigation, initially focusing on how 42 million ringgit ($10.6 million) went from SRC International to Najib's account.

Najib has been barred from leaving Malaysia as the new government investigates accusations he took part in the looting of billions of dollars from sovereign wealth fund 1MDB in a vast conspiracy of fraud and money-laundering.

Staff from Malaysia's central bank will serve on a multi-agency "task force", set up to investigate allegations of massive financial malpractice at the state-owned 1MDB fund.

SRC International was a subsidiary of 1Malaysia Development Berhad (1MDB) before it was placed under the Finance Ministry in 2012.

At one point Shukri even flew to Washington to bring the 1MDB case, in which suspicious funds ended up in the personal accounts of Najib, to U.S. authorities.

"Whenever possible, recovered assets will be used to benefit the people harmed by these acts of corruption and abuse of office", the statement added.

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