June 12, 2018 / 7:44 AM / 4 months ago

Malaysia says U.S. to monetize and return assets seized from 1MDB probe

KUALA LUMPUR (Reuters) - The U.S. ambassador to Malaysia has told Kuala Lumpur that assets seized by the United States as part of its probe into the 1MDB fund will be monetized and returned to Malaysia, the Southeast Asian nation’s finance minister said.

FILE PHOTO: A construction worker talks on the phone in front of a 1Malaysia Development Berhad (1MDB) billboard at the Tun Razak Exchange development in Kuala Lumpur, Malaysia, February 3, 2016. REUTERS/Olivia Harris//File Photo

Minister Lim Guan Eng made the comment on Twitter following a meeting with Kamala Shirin Lakhdhir, the U.S. ambassador to Malaysia.

“She reassured me that assets seized from 1MDB will be monetized and returned to Malaysia as early as possible,” Lim said.

The U.S. Department of Justice has filed civil lawsuits to seize assets it says were bought with funds misappropriated from Malaysian state fund 1Malaysia Development Berhad (1MDB).

Reporting by A. Ananthalakshmi

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