Arul Kanda: Police release 1MDB accounts

1MDB’s Arul Kanda says auditors can now look through some of the documents seized by police in 2015. (Facebook pic)

SHAH ALAM: Auditors can now go through original documents of 1Malaysia Development Berhad’s accounts which were seized in July 2015, the company’s president, Arul Kanda Kandasamy, said last night.

He said the audit firm can now refer to some of the original documents, including ledgers and payment vouchers, in order to audit the company’s financial reports.

Arul Kanda said that the police had given permission to the audit company last month.

“Without the original documents, the auditor appointed by 1MDB cannot complete the audit of the company’s finanes,” he told reporters after giving a talk on 1MDB.

Arul Kanda said the police had seized various original documents from the 1MDB office for investigation in July 2015.

The Finance Ministry, which owns 1MDB, said it could not tell how long it would take for 1MDB’s 2015 and 2016 financial statements to be completed even after it had appointed a new auditor.

1MDB has been mired in allegations of money-laundering, embezzlement, and theft, because of its investments and financial deals with Middle Eastern partners. The controversies resulted in civil suits by the United States Justice Department seeking the recovery of more than US$1 billion in assets said to have been bought with money stolen from 1MDB. The company denies loss of any funds.