US prosecutors say $4.5bn was taken from the state fund by top Malay officials and their cronies
Malaysia has recovered $322m stolen from the scandal-hit sovereign wealth fund 1Malaysia Development Berhad , officials said on Tuesday — a fraction of the more than $4.5bn US prosecutors say was looted.
Former top officials at the state fund and their cronies allegedly stole billions from 1MDB and used the money to buy items ranging from a super-yacht to artwork. Former prime minister Mahathir Mohamad, who led a coalition that toppled Najib from power at the polls, had spearheaded efforts to recover the looted money. But Mahathir abruptly resigned last month after his coalition collapsed amid a power play.
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