China Denies Report Of Bailout Offer For Scandal-Plagued Malaysian Fund | 3/1/2015 | Staff
moemajor (Posted by) Level 3
KUALA LUMPUR (Reuters) – China on Tuesday rejected a Wall Street Journal report that said Chinese officials had offered to bail out scandal-ridden Malaysian state fund 1MDB and try to get the United States and other countries to drop their corruption probes into the fund.

The Journal, citing minutes of meetings between Chinese and Malaysian officials, reported on Monday that the offers were made in 2016. In return, Malaysia offered China lucrative stakes in railway and pipeline projects for Beijing’s “One Belt, One Road” infrastructure initiative, the report said.

Statement - Response - Journal - Report - Embassy

In a statement in response to the Journal report, the Chinese embassy in Kuala Lumpur said China never attaches political conditions to its cooperation with other countries.

“China has all along adhered to the principle of non-interference in the internal affairs of any other country. We do not accept any groundless accusations made against China,” the embassy said.

Malaysian - Minister - Najib - Razak - Subject

1MDB, founded by former Malaysian prime minister Najib Razak, is the subject of corruption and money laundering investigations in at least six countries.

The U.S. Justice Department has estimated that a total of $4.5 billion was...
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