June 12, 2018 / 7:48 AM / 2 months ago

Malaysia says U.S. to monetise and return assets seized from 1MDB probe

KUALA LUMPUR (Reuters) - The U.S. ambassador to Malaysia has told Kuala Lumpur that assets seized by the United States as part of its probe into the 1MDB fund will be monetised and returned to Malaysia, the Southeast Asian nation’s finance minister said.

FILE PHOTO: A man walks past a 1 Malaysia Development Berhad (1MDB) billboard at the funds flagship Tun Razak Exchange development in Kuala Lumpur, in this March 1, 2015 file photo. REUTERS/Olivia Harris/File Photo

Minister Lim Guan Eng made the comment on Twitter following a meeting with Kamala Shirin Lakhdhir, the U.S. ambassador to Malaysia.

“She reassured me that assets seized from 1MDB will be monetised and returned to Malaysia as early as possible,” Lim said.

The U.S. Department of Justice has filed civil lawsuits to seize assets it says were bought with funds misappropriated from Malaysian state fund 1Malaysia Development Berhad (1MDB).

Reporting by A. Ananthalakshmi

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