BNM may reopen probe into alleged massive fraud at 1MDB

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Malaysia’s central bank governor says the institution will reopen its investigation into the Malaysian government-owned investment fund 1MDB if it receives “new information”.

Public anger over accusations that former prime minister Najib Razak was involved in massive fraud at 1MDB was the main factor in his shock election defeat last week, local observers say. The newly elected prime minster Mahathir Mohamad told reporters that he expects Razak to face prosecution soon over the affair.

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