PETALING JAYA (THE STAR/ASIA NEWS NETWORK) - Former prime minister Dr Mahathir Mohamad has questioned whether 1Malaysia Development Berhad (1MDB) was involved in money laundering.
In a blog post on Thursday, Dr Mahathir suggested that the explanation that US$1 billion (S$1.35 billion) was being kept in Singapore to facilitate withdrawals, as Bank Negara would disrupt transactions of more than US$50 million, did not add up.
"To my knowledge, banks have been instructed to questions deals more than RM50,000 (S$18,551). If the deal has no relation to 'money laundering', which is illegal, it is not a problem.
"The question is was 1MDB, with the knowledge of its adviser, involved in money laundering, which is why the money from the Cayman Islands had to be kept in Singapore.
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