ASIA-PACIFIC NEWS
Malaysian PM's stepson used 1MDB funds to buy $34M London house: WSJ
Matt Clinch
CNBC.com
The troubled Malaysia state-investment fund 1MDB was back under the microscope Thursday with claims that the stepson of the prime minster had used cash from the fund to buy a London property, according to the Wall Street Journal who cited people familiar with the situation.
The report states that PM Najib Razak's stepson Riza Aziz - a film producer and founder of Red Granite Pictures - purchased a house in central London in 2012 with money originating from the 1Malaysia Development Bhd (1MDB) fund. It adds that the redbrick four-story property is worth £23.25 million ($33.6 million) and is located in London's exclusive Belgravia neighborhood.
Malaysian PM's stepson used 1MDB funds to buy $34M London house: WSJ
Matt Clinch
CNBC.com
The troubled Malaysia state-investment fund 1MDB was back under the microscope Thursday with claims that the stepson of the prime minster had used cash from the fund to buy a London property, according to the Wall Street Journal who cited people familiar with the situation.
The report states that PM Najib Razak's stepson Riza Aziz - a film producer and founder of Red Granite Pictures - purchased a house in central London in 2012 with money originating from the 1Malaysia Development Bhd (1MDB) fund. It adds that the redbrick four-story property is worth £23.25 million ($33.6 million) and is located in London's exclusive Belgravia neighborhood.
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