1MDB asset recovery: Picasso, three other valuable paintings arrive in M'sia

Four high-value artworks, including a painting by renowned Spanish artist Pablo Picasso, have been successfully repatriated to Malaysia under the government's 1MDB assets recovery effort.

MACC said the paintings are being kept at its headquarters in Putrajaya and are undergoing an environmental stabilisation, or acclimatisation, process by the National Visual Arts Development Board.

"The total estimated value of the artworks is US$198,125 (RM787,000), comprising works by renowned international artists," the anti-graft agency added in a statement this evening.

The four paintings are Picasso’s L’Ecuyere et les clowns (1961); Composition (1953) by Joan Miro; Maison de rendez-vous de chasse de Henri IV, Rue St Vincent, Montmartre (1934) by Maurice Utrillo; and Etude pour femme couchee (1948) by Balthus.

"The return of these artworks not only symbolises Malaysia’s continued success in recovering misappropriated assets, but also strengthens the country’s standing in implementing best practices in asset recovery at the international level," MACC said.

The graftbusters, however, did not specify when or how the artworks were brought back into the country.

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It was understood that they were among 12 high-value paintings linked to 1MDB owned by former counsel Jasmine Loo that US authorities had seized.

They were held by auction houses Christie’s and Sotheby’s and valued at over US$30 million.

MACC said in December that Malaysia secured the paintings' return in a formal agreement with the US Justice Department.

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