KUALA LUMPUR: Malaysia on Monday set up a task force to probe allegations that billions of dollars were looted from sovereign wealth fund 1MDB in an audacious fraud overseen by ousted ex-leader Najib Razak. A major reason for their success was public disgust at allegations of endemic corruption among the country's ruling elite, and in particular an explosive scandal surrounding state fund 1MDB. The special task force will be charged with seizing back assets and pursuing legal action against those suspected of breaking the law in relation to the fund, said the prime minister's office. "The government hopes the setting up of this task force, comprising a multi-agency enforcement unit, will help restore the dignity of Malaysia that has been tainted by the 1MDB kleptocracy scandal," said a statement from the office. The task force will include representatives of the anti-graft agency, the police and the attorney-general's office, as well as members of a previous task force set up under Najib but disbanded as speculation mounted he was due to be charged.

Source: Bangkok Post May 21, 2018 07:41 UTC