Malaysia to cooperate foreign investigations on state investment fund 1MDB

Malaysia government said Thursday that it would fully cooperate with any lawful investigation following U.S. prosecutors moved to seize more than 1 billion U.S. dollars related to its state investment fund 1MDB.

"We note the United States Department of Justice's civil lawsuits brought against various assets. As previously stated, the Malaysian government will fully cooperate with any lawful investigation of Malaysian companies or citizens in accordance with international protocols," a spokesman for prime minister Najib Razak said in a statement.

He said multiple investigations by the Malaysian authorities had found no crime committed.

1 Malaysia Development Berhad, 1MDB, was created by the government of Malaysia to promote economic development in Malaysia through global partnerships and foreign direct investment. However, it was revealed last year that it had suffered huge loss in several years of operations.

The United States announced Wednesday it has filed a civil lawsuit to forfeit and recover more than 1 billion U.S. dollars in assets purchased with money stolen from 1MDB. U.S. Attorney General Loretta Lynch said that these assets are associated with "international conspiracy to launder funds misappropriated from the Malaysian fund."

In a statement, 1MDB said it was not a party to the civil suit, "does not have any assets in the United States of America, nor has it benefited from the various transactions described in the civil suit."

1MDB reiterated that it would fully cooperate with any foreign lawful authority, but said it had not been contacted by the U.S. Justice Department or any other foreign agency in relation to their investigations. Enditem