Singapore freezes bank accounts linked to Malaysia PM graft probe

Bangkok, July 22: Police in Singapore on Wednesday have frozen two bank accounts as part of an investigation into alleged graft involving Malaysian Prime Minister jib Razak and development firm 1Malaysia Development Berhad. The order to freeze the accounts was issued last week, said the police, without divulging the me of the banks as investigation was still underway. Sarawak Report and the Wall Street Jourl reported on July 3 that 1Malaysia Development Berhad (1MDB) had deposited $700 million in the prime minister’s bank accounts. jib and 1MDB have denied the accusations. 1MDB was established in 2009 and so far has accumulated losses to the tune of $11 billion. The fince ministry ordered an audit of the company to probe how the company reached such a precarious state and to look into accusations of graft, including bribery and fraudulent contracts. (IANS)