September 4, 2019 / 7:34 AM / 16 days ago

Malaysia pursuing civil action to recover nearly $1 bln from former 1MDB unit

KUALA LUMPUR, Sept 4 (Reuters) - Malaysia is pursuing civil action to recover about 4 billion ringgit ($954.65 million) of funds disbursed by a former subsidiary of 1MDB, a now-defunct state fund under investigation for money laundering, the finance minister said on Wednesday.

“Considering a large portion of the funds had been used across the world, the government is taking the necessary steps to repatriate as much of the 4 billion ringgit,” Finance Minister Lim Guan Eng said in a statement.

BSI Bank in Switzerland and Julius Baer in Hong Kong are among firms that received the funds from SRC, Lim said.

$1 = 4.1900 ringgit Reporting by A. Ananthalakshmi; Editing by Kim Coghill

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