: The Malaysian Anti-Corruption Commission has issued compound notices to a total of 80 individuals and entities that allegedly received funds of RM420 million from sovereign wealth fund 1Malaysia Development Berhad .
“We hope to recover as much as we can and we are sending compound notices for these individuals and entities to return the money,” said its Chief Commissioner Latheefa Koya in a press conference today. Latheefa said if they fail to comply within two weeks, they will be charged under Section 92 of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001.
“They face paying a fine which can be up to two and a half times the amount they received,” she said. Latheefa said the amounts the individuals received were as low as RM500,000 and as high as RM25 million, while the entities received up to RM134 million.
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