The Star·3 min read·medium
MOF: KWAP deceived on efishery investment, fund recovery underway
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The Star Online
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The Malaysian Ministry of Finance has confirmed that the state retirement fund, KWAP, was defrauded during its investment in the Indonesian startup eFishery. The ministry is currently pursuing legal action and internal governance reviews to recover the lost funds.
KUALA LUMPUR: The Ministry of Finance (MOF) has found that the Retirement Fund (Incorporated) (KWAP) was deceived about its investment in eFishery and that it was a well-planned fraud.
businesseconomy
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