Illustrative image (Source: AFP/VNA) Hanoi (VNA) – The US government has begun returning to Malaysia some 200million USD recovered from asset seizures linked to the latter’s stateinvestment fund 1MDB, the two countries announced on May 7.
Malaysia’s AttorneyGeneral Tommy Thomas said in a statement that to date 57 million USD has been sentback to Malaysia following a settlement reached with Hollywood film productioncompany Red Granite Pictures, which is linked to Najib’s stepson Riza Aziz.
Red Granite had paidthe US government 60 million USD in September 2017 to settle a civil forfeitureclaim over the rights to the 2013 Oscar-nominated film The Wolf of Wall Street,which the US Department of Justice (DoJ) said was financed with 1MDB funds.
A deduction of 3million USD from the settlement was made to reimburse costs incurred by USauthorities in investigating, seizing, litigating and securing settlement ofthe Red Granite funds, Thomas said.
The DoJ is also in theprocess of remitting another 139 million USD, pending the sale of a Manhattanproperty linked to fugitive Malaysian financier, Low Taek Jho or Jho Low, headded.
The latest moneyreturned by the US brings the total amount recovered by Malaysia to 322 millionUSD. This includes 126 million USD from the sale of a luxury yacht allegedlybought by Low with 1MDB funds.
Singapore authoritieshave also ordered a separate return of 50 million SGD (36.70 million USD) in1MDB-linked funds to Malaysia, he added.
Former Malaysian PrimeMinister Najib Razak founded the 1MDB investment fund in 2009, supposedly toserve Malaysia’s development through global partnerships and foreign directinvestment.
However, it became thecentre of a money laundering scandal, allegedly causing losses of up to 3.7billion USD and leading to probes in Malaysia and several other countries suchas the US, Switzerland, Singapore and China.–VNA
VNA
