Malaysia’s central bank slapped a fine on 1Malaysia Development Bhd. and announced it was ending its investigation into the troubled state fund, drawing one line under months of probes of 1MDB’s finances.
1MDB failed to explain why it can’t send back some funds from overseas, and has until May 30 to pay the fine for non-compliance, the central bank said in a Thursday statement. Bank Negara did not specify the size of the fine or how much 1MDB was required to repatriate.
The fund was ordered to repatriate the money after the central bank revoked three permissions granted in 2009, 2010 and 2011, Bank Negara said. The fine was issued with the consent of the attorney general.
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