(June 21): Former Prime Minister Najib Razak has denied that any money from TRX City Sdn Bhd (TRXC) was misappropriated by 1MDB.
In a Facebook post tonight, Najib said: "No monies from TRXC were misappropriated by 1MDB. As practiced by many companies, approx(imately) RM3 billion of inter-company loans were made, over time, by TRXC to 1MDB.
"All these inter-company (loans) were repaid by 1MDB effective 31 March 2017, through a combination of cash repayments and a set-off against dividends paid by TRXC to 1MDB.
Fiat Chrysler Automobiles NV on Thursday accused EU competition regulators of over-reaching their powers and acting as a supranational tax authority for the bloc when they ruled against its tax deal with Luxembourg three years ago.