KUALA LUMPUR — May 7, 2019: Malaysia has recovered US$322 million (about RM1.3 billion) worth of 1Malaysia Development Berhad assets since investigations into the state-owned sovereign wealth fund began after the 14th general election in May last year.
A statement from Attorney-General Tommy Thomas today said that a separate sum of SG$50 million (about RM152 million) traceable to 1MDB has been ordered by the Singapore courts to be repatriated.
SG$15 million was credited into (the) 1MDB asset recovery account between September last year and March while the balance will be credited shortly.
“The government of Malaysia is pleased to announce that the United States has returned and will be returning substantial monies to Malaysia, representing the first instalment of funds recovered from asset seizures related to 1MDB under the Kleptocracy Asset Recovery Initiative of the US Department of Justice (DoJ).
“It may be recalled that the DoJ recently announced that of the US$4.5 billion wrongfully diverted from 1MDB, the value of assets the DoJ was seeking to forfeit through its numerous civil forfeiture complaints filed from 2016 to 2019 was estimated at US$1.7 billion,” said the statement.
“These assets include the luxury superyacht, Equanimity, which was judicially sold by the Malaysian Admiralty Court last month for US$126 million.
The first tranche of returned funds of US$57,036,688.68 was credited into the 1MDB asset recovery account, a segregated trust account, opened specifically for this purpose.
This sum was forfeited from Red Granite Pictures, a US-based film production company linked to former prime minister Datuk Seri Najib Razak’s step-son Riza Aziz and arose from a US$60 million-settlement recorded before the Court of California.
A deduction of US$3 million was made to reimburse costs incurred by the DoJ and the Federal Bureau of Investigation in investigating, seizing, litigating and securing a settlement for the Red Granite funds.
Included in the deduction were the costs incurred by the DoJ and FBI in investigating, seizing and maintaining the Equanimity when it was arrested in Indonesian waters before being taken to Malaysia.
A further US$139 million from the sale of interest in the Park Lane Hotel in Manhattan will also be remitted to Malaysia. — Bernama