Gov’t Goes After Another $540M In Assets In 1MDB Scheme
Law360, New York (June 15, 2017, 7:51 PM EDT) -- The federal government dramatically expanded its efforts to seize assets linked to a sprawling corruption scheme surrounding the sovereign wealth fund 1Malaysia Development Bhd. on Thursday, asking a California federal court for permission to seize $540 million worth of goods including a $250 million yacht, a Picasso painting and jewelry given to the supermodel Miranda Kerr and the wife of a top Malaysian government official.
In a dozen new forfeiture cases, prosecutors described how money embezzled from sovereign wealth fund 1Malaysia Development Bhd. allegedly wound its way through a web of trust funds and offshore bank accounts. (AP) In a dozen...
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