U.S. DOJ Asked Banks For Details About Malaysia’s 1MDB Dealings

U.S. authorities asked JPMorgan Chase, Deutsche Bank and Wells Fargo to furnish details of their dealings with Malaysian state investor 1Malaysia Development Berhad (1MDB), as global authorities widen their probes into the troubled state fund. Earlier, Monetary Authority of Singapore also sought details from financial institutions as part of its probe into possible money laundering there.

U.S. officials examining money flows connected with 1MDB

1MDB was established by Malaysian prime minister Najib Razak to support long-term economic development in the country. However, the state fund has been subject to an investigation for misappropriation of some $700 million of the funds. 1MDB has denied wrongdoing, and the Malaysian PM indicated...