Malaysia looking to recover nearly $1b paid out by former 1MDB unit

Malaysia looking to recover nearly $1b paid out by former 1MDB unit

FILE PHOTO: Men walk past a 1 Malaysia Development Berhad (1MDB) billboard at the fund's flagship Tun Razak Exchange development in Kuala Lumpur March 1, 2015. REUTERS/Olivia Harris

Malaysia is pursuing civil action to recover about 4 billion ringgit ($954.65 million) of funds disbursed by a former subsidiary of 1MDB, a now-defunct state fund under investigation for money laundering, the finance minister said on Wednesday.