More trouble around Malaysia's 1MDB

|By:, SA News Editor

The U.S. Justice Department has seized $540M in assets from embattled sovereign wealth fund 1MDB, which was set up by Malaysian Prime Minister Najib Razak in 2009 to promote economic development.

The action claims financiers related to the fund stole around $4.5B, which included a Picasso painting gifted to Leonardo DiCaprio and the rights to movies Daddy's Home and Dumb and Dumber Two.

ETFs: EWM

Subscribe for full text news in your inbox