RM14.6m in 1MDB assets recovered, says MACC

Summary

• About RM14.6 million linked to 1MDB have been returned to the country, says the MACC.

• This brings the total in reclaimed 1MDB-linked money to 70 percent or RM29.7 billion of the misappropriated RM42 billion.

About RM14.6 million in assets linked to 1MDB have been repatriated, the MACC said today.

The total of RM14,670,676.61 included SG$1,388,122.52, US$85,868.53, NZ$344,163.76, and AU$3,181,097.67, said the MACC.

“This brings the total 1MDB asset recovery to date to RM29,752,034,475.13, which is 70 percent of the approximately RM42 billion believed to have been misappropriated,” it said.

The funds obtained have been deposited into the Assets Recovery Trust Fund under the Finance Ministry, it added.

Of the total, RM12,974,730.41 was linked to Tan Kim Loong, a Malaysian citizen connected to Low Taek Jho (Jho Low).

Low is widely regarded as the alleged mastermind of the 1MDB scandal.

The assets were transferred to the ministry fund on Feb 18 and March 7 and 10, the MACC said.

Another sum of RM1,695,946.20 was recovered from Singaporean citizen and former banker Yak Yew Chee.

In 2016, a Singapore court sentenced Yak to 18 weeks in jail and fined him SG$24,000 after finding him guilty on two counts of failing to inform authorities of suspicious banking activities in connection with Low.

The MACC said the assets from Yak were transferred on Jan 21.

It pointed to its high rate of success in repatriating assets as evidence of the antigraft agency’s commitment and its global network in recovering stolen assets.

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