Feds Rip 1MDB Trusts Over Late Filings, Deny Intimidation

By Jack Newsham (March 1, 2017, 8:10 PM EST) -- U.S. prosecutors who seized assets allegedly bought with money stolen from a Malaysian government investment fund urged a California federal judge Wednesday to prevent the offshore entities that own them from staking claims, accusing them of trying to "manipulate the legal process and flout the forfeiture rules."

Offshore companies that own $1 billion the feds contend to be stolen from 1Malaysia Development Bhd. threw their hats into the ring last month in eight related lawsuits pending in Los Angeles. The companies are run by trusts incorporated in the Cayman Islands and New Zealand for the benefit of the family of financier...

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