Singapore Central Bank assists corruption probe
Singapore’s central bank is cooperating with Malaysia over a probe into allegations regarding transfers totalling almost $700 million into the Prime Minister’s personal accounts. Malaysian authorities say they are freezing six accounts related to the probe. The Monetary Authority of Singapore:
The Malaysian authorities have launched an investigation into this matter. Singapore will continue to provide our full assistance and share information with the authorities in Malaysia, within the ambit of our laws. In this connection, MAS has been in close contact with the relevant financial institutions.
Claim: $700million transferred to personal account
The Wall Street Journal says that Malaysian government investigators have discovered evidence of potential corruption involving Prime Minister Razak, alleging that almost $700 million linked to the 1Malaysia Development Bhd. investment fund was transferred into his personal accounts. The original source and ultimate destination of the money is unclear. Prime Minister’s office:
There have been concerted efforts by certain individuals to undermine confidence in our economy, tarnish the government and remove a democratically-elected prime minister.