PUTRAJAYA: The Malaysian Anti-Corruption Commission (MACC) has issued compound notices to 80 individuals and companies said to have benefited millions of ringgit from state investment fund 1MDB.
The notices were issued under Section 92(1) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001.
“We hope to recover as much money as possible linked to the sovereign wealth fund,” MACC chief commissioner Latheefa Koya said here today.
She added that the fine for failing to pay the compound can be up to two and a half times the amount.
The individuals and entities in question are believed to have received up to RM420 million from 1MDB.
The list includes groups linked to Umno as well as entities with ties to the opposition.
They are required to pay up within two weeks failing which they will be subject to action under Section 92(3).