Malaysian police resume probe of 1MDB based on parliamentary panel findings

A man walks past a 1Malaysia Development Berhad (1MDB) billboard.
A man walks past a 1Malaysia Development Berhad (1MDB) billboard. PHOTO: REUTERS

KUALA LUMPUR - The Malaysian police have resumed their investigation into state investor 1Malaysia Development Berhad (1MDB), following the findings by the Public Accounts Committee(PAC) presented in Parliament last week.

Malay Mail Online on Thursday (April 14) quoted Inspector-General of Police Khalid Abu Bakar as saying that an investigating team led by him has been set up.

"We have recorded statement from several people involved and more will be called up soon," the IGP was quoted as saying, but he declined to reveal the identities of the team members.

Tan Sri Khalid said the investigations were being undertaken by both the criminal investigations department and the commercial crime investigations department, the Malay Mail Online reported.

He said based on the PAC findings, the case would be investigated for cheating and criminal breach of trust by an agent or public servant.

"We will be looking to establish if there was any criminal element involved with the company's administrative undertakings," he was quoted as saying.

In its report to Parliament, the PAC said the board of 1MDB had failed to carry out its responsibilities and its former chief Shahrol Azral Ibrahim Halmi must be further investigated.

The bi-partisan parliamentary panel also said in its much delayed report that it found the financing and performance of 1MDB "unsatisfactory".

It called for the advisory board of the fund, which is headed by Prime Minister Najib Razak, to be abolished and any reference to the Prime Minister to be changed to finance minister in the company's memorandum and articles of association.