DOJ seeks to recover US$300 mil more in 1MBD assets held in Britain

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The US Department of Justice is seeking to recover US$300 million (RM1.2 billion) in additional assets allegedly associated with the multibillion-dollar 1MDB scandal, assets it has traced to an escrow account in the United Kingdom, the agency said on Wednesday. Malaysian and US authorities estimate US$4.5 billion was stolen from 1MDB in an elaborate scheme that spanned the globe and implicated high-level officials in the fund, former Malaysian Prime Minister Najib Razak, executives at US bank Goldman Sachs, and others. Najib has denied wrongdoing. In a complaint filed in the Central District of California on Wednesday, the Justice Department said the US$300 million was traceable to a line of credit extended by Venezuela’s state oil company Petroleos de Venezuela S.A. to Saudi’s PetroSaudi Oil Services in connection with an oil-drilling venture. The companies are already embroiled…