DOJ moves to seize RM1.34b in '1MDB-linked funds' from UK law firm

DOJ moves to seize RM1.34b in '1MDB-linked funds' from UK law firm - Hello loyal readers FeedGoogle, In the article you are reading this time with the title DOJ moves to seize RM1.34b in '1MDB-linked funds' from UK law firm, We have prepared this article well for you to read and take information in it. hopefully the contents of the post Article Malaysians, what we write you can understand. Alright, happy reading.

The US Department of Justice has initiated a process to seize US$330 million (RM1.343 billion) from a top law firm in the UK.The DOJ, through the UK’s National Crime Agency, served a warrant on Clyde & Co’s London office.The warrant targeted US$330 million held by Clyde & Co on behalf of a client at the National Westminster Bank, according to UK-based The Guardian which sighted the court documents.The DOJ believes the monies are linked to the proceeds of stolen funds from 1MDB.The DOJ had in 2016 detailed three phases in which 1MDB-linked funds were systematically siphoned through a network of complex transactions.
 In 2017, it also revealed a fourth phase in which a Ponzi-scheme series of transactions were structured to cover up the fact that money had been stolen.
 

The DOJ’s action against Clyde & Co is specific to the first phase, which involves 1MDB’s joint-v…