The Presidential Daily Brief

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    US to Seize $1 Billion in Malaysian Embezzlement Case

    Better cover your assets. American authorities are expected to begin seizing assets — including fine art and real estate — bought with money misappropriated from 1MDB, Malaysia’s sovereign wealth fund. It’ll be the biggest case of this kind ever brought by the Justice Department, and the $1 billion sought is thought to be just a fraction of the money stolen from the fund. This is a huge step in Washington’s fight against global corruption, but it could lose the U.S. one of its strategic Asian allies.

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