KUALA LUMPUR: Police on Thursday raided the offices of auditor Deloitte as they ramped up investigations into a multi-billion-dollar corruption scandal, an official said.
Huge sums were stolen from Malaysian state fund 1MDB, allegedly by former prime minister Najib Razak and his cronies, who are said to have spent it on everything from yachts to rare artwork. Najib has denied any wrongdoing.Mazlan Mansor, the police head of commercial crime, confirmed to AFP that a raid had taken place on Deloitte’s office “in the course of 1MDB investigations”.Malaysia’s securities regulator had already fined the firm RM2.
The same year, the firm said its audits of 1MDB’s financial statements could no longer be relied upon after the US filed lawsuits linked to the scandal. US authorities are seeking to claw back assets allegedly bought in America with funds stolen from 1MDB and believe US$4.5 billion was looted from the fund.
The allegations played a large part in persuading voters to eject Najib’s coalition at historic elections last year after more than six decades in power.Subscribe to our newsletter and get news delivered to your mailbox.
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