Police raid 1MDB office in Kuala Lumpur

Police are raiding the 1Malaysia Development Bhd office in Kuala Lumpur after The Wall Street Journal revealed that money from the state investment vehicle was being funnelled into Prime Minister Datuk Seri Najib Razak’s bank accounts. – AFP file pic, July 8, 2015.

Police are raiding the 1Malaysia Development Bhd office in capital city Kuala Lumpur, as a Malaysian task force expands its investigations into the government-owned strategic investor saddled with a RM42 billion debt.

The raids began at around 11.30am and are still ongoing, The Star newspaper reported.

It is understood the police are still at the 1MDB office located at Menara IMC in the central business district.

A special task force consisting of Bank Negara Malaysia governor Tan Sri Dr Zeti Akthar Aziz, Attorney-General Tan Sri Abdul Patail, Inspector-General of Police Tan Sri Khalid Abu Bakar and the Malaysian Anti-Corruption Commission (MACC) chief commissioner Tan Sri Abu Kassim Mohamed has been investigating 1MDB's business.

The task force has frozen six bank accounts and is said to be investigating 17 others involved in a related case where, according to The Wall Street Journal newspaper, nearly US$700 million was  funnelled into Prime Minister Datuk Seri Najib Razak's bank accounts .

The task force has seized documents during raids on 1MDB-linked companies – SRC International Sdn Bhd, Gandingan Mentari Sdn Bhd and Ihsan Perdana Sdn Bhd – which allegedly were used to channel funds to the prime minister’s bank accounts.

IGP Khalid told reporters today morning that the police were investigating how the Wall Street Journal obtained access to bank documents which it uploaded on its website yesterday.

- TMI