The country's former prime minister has been asked to give a statement on the matter this week.

Malaysia has established a task force to probe 1MDB, just a week after the nation’s new prime minister vowed to revisit investigations into the management of the scandal-hit development fund. 

The unit, also tasked with unearthing and seizing misappropriated assets, will comprise the Malaysian Anti-Corruption Commission, the country’s central bank and police, Prime Minister Mahathir Mohamad’s office said, adding it will collaborate with other global authorities.

Former Prime Minister Najib Razak, whose personal bank accounts allegedly received some $700 million of 1MDB-linked funds, has been asked to make a statement on 22 May to anti-corruption investigators. He has consistently denied wrongdoing. 

The US has estimated that at least $4.5 billion was looted from 1MDB, or 1Malaysia Development Berhad, by Malaysian officials and accomplices. 

The issue of how the previous government handled the unfolding 1MDB scandal was expected to be a preoccupation for the new administration following the shock election result a fortnight ago.