Misappropriated 1MDB funds helped finance US$2.2 bil energy firm deal — U.S. lawsuit

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Misappropriated 1MDB funds helped finance US$2.2 bil energy firm deal — U.S. lawsuit

Misappropriated 1MDB funds helped finance US$2.2 bil energy firm deal — U.S. lawsuit

KUALA LUMPUR/WASHINGTON (June 13): Money misappropriated from a Malaysian state fund was used to partly finance the US$2.2 billion acquisition of Houston-based Coastal Energy in 2014, the U.S. government alleged in a lawsuit filed last week.

Proceeds from the Coastal Energy deal were then used to buy a property in London's glitzy Mayfair district, according to the lawsuit dated June 7. The United States is seeking to seize the London property, along with two others, the document showed.

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