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U.S. goes after $1 billion taken from Malaysian fund

Wednesday, July 20, 2016 - 01:47

U.S. Attorney General Loretta Lynch announces a civil action seeking the recovery of more than $1 billion worth of assets taken from a Malaysian sovereign wealth fund. Rough Cut (no reporter narration).

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ROUGH CUT (NO REPORTER NARRATION) U.S. Attorney General Loretta Lynch announced a civil action on Wednesday seeking the recovery of more than $1 billion worth of assets linked to a conspiracy to launder foods taken from a Malaysian sovereign wealth fund. "The Department of Justice will not allow the American financial system to be used as a conduit for corruption," Lynch told a news conference in announcing the civil suit, described as the largest single action every brought under the Justice Department's Kleptocracy Asset Recovery Initiative. "Corrupt officials around the world should make no mistake that we will be relentless in our efforts to deny them the proceeds of their crimes," Lynch said.

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U.S. goes after $1 billion taken from Malaysian fund

Wednesday, July 20, 2016 - 01:47