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Malaysian Translation Agency linked to 1MDB Scandal

10 October 2019   /    Our Blog   /    no comments

Malaysian Translation Agency linked to 1MDB Scandal

Home / Malaysian Translation Agency linked to 1MDB Scandal

According to news reports , Institut Terjemahan dan Buku Malaysia Bhd (ITBM), a Malaysian GLC, is mentioned in the list of entities and organizations issued by the Malaysian Anti-Corruption Commission ( MACC ) as recipients of funds originating from ill-fated sovereign fund 1MBD.

The funds, disbursed in 2011 and amounting to 975,000 ringgit in total, ought to be returned to the MACC within two weeks from the compound notice issued to them by the Malaysian Anti-Corruption Commission.

ITBM has issued a statement refuting any ill-intention or wrongdoing regarding the said emoluments.

According to MSN News, the anti-graft body gave them two weeks to pay the fine under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001.

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