US returns US$300 million 1MDB stolen money

 

THE United States has send back US$300 million (RM1.3bil) in stolen funds from the 1MDB corruption scandal that had been laundered through the global financial system, to the Malaysian government.

The Department of Justice said that combined with other funds handed over nearly one year ago, it has now returned or helped Malaysia recover more than US$1bil (RM4.33bil) in funds and assets lost in the scam.

US Attorney Nick Hanna said the amount of money stolen from the people of Malaysia was staggering and they have been relentless in recovering assets that always should have been used for the people’s benefit.

Prime Minister Tan Sri Muhyiddin Yassin said in a statement that the total amount recovered and sent back now stood at US$620 million.

He thanked the US government, especially the US embassy here, for facilitating the return.

Muhyiddin also thanked the Finance Minister and the Attorney General for their roles in the negotiation process.

He said the process to sell the remaining assets seized from Jho Low was ongoing.

The US said that from 2009 to 2015, high level officials of 1MDB and Jho Low, siphoned off the billions originally meant to fund state investments.

Low used a lot of the money to buy luxurious homes and top-level art and invest in Hollywood movies, including the Martin Scorsese hit Wolf of Wall Street.

 

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