Financial Crime Financial Crime

1MDB funds in Venezuelan oil deal hidden in corporate 'web,' US DOJ says in revised forfeiture action

By Robert Thomason
  • 07 Jul 2021 14:00
  • 07 Jul 2021 14:00
Fraudulently obtained 1MDB funds flowed through a "web of corporate structures" to finance a failed Venezuelan oil deal, the US Justice Department alleged in an amended complaint seeking the recovery of $300 million.

The forfeiture action for the money has been dismissed twice before by a US district judge who, in the most

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