Malaysia is duty-bound to investigate and recover any assets unaccounted for in the 1MDB Public Accounts Committee probe, because it is a signatory of the United Nations Convention against Corruption (Uncac).
This means cooperating with the international agencies investigating the flow of funds linked to 1MDB.
“Malaysia is duty-bound to assist and cooperate with other nation states to investigate and recover the misappropriate funds, and not hinder it in any way,” anti-corruption NGO C4 said.
Article 51 of convention states the return of assets is a fundamental principle of the convention and state must give “the widest measure of cooperation and assistance in this regard”.
PAC members yesterday said US$7 billion of 1MDB’s assets and investments cannot be verified.
This includes payments made to offshore firm Good Star Ltd and to a British Virgin Island firm Aabar PJS Limited, which Abu Dhabi state firm International Petroleum Investment Corporation said it does not own.
[More to follow]
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