US returns another 300 million USD stolen from 1MDB fund to Malaysia

The government of former Malaysian Prime Minister Najib Razak set up the 1MDB fund in 2009. (Photo: AFP)

Kuala Lumpur (VNA) - The US Department of Justice (DoJ) on April 14 said it has repatriated another 300 million USD recovered from asset seizures linked to the 1Malaysia Development Berhad (1MDB) to the Southeast Asian nation.

The amount is part of more than 4.5 billion USD that US investigators said that has been "embezzled" from the 1MDB fund under the governance of former Malaysian Prime Minister Najib Razak.

Along with other amounts returned to Malaysia a year ago, the US has so far helped Malaysia recover more than 1 billion USD lost in the corruption scandal.

Najib founded the 1MDB investment fund in 2009, supposedly to serve Malaysia’s development through global partnerships and foreign direct investment.

Malaysian and US investigators believe that the fund has looted about 4.5 billion USD, about 1 billion USD of which was sent to the Najib’s personal bank account.

The allegations contributed to Nazib’s shock election loss in 2018 and he has since been put on trial over the scandal. At least six countries are investigating the scandal.

Last September, the DoJ reached a deal with Malaysian financier Jho Low to retake almost 1 billion USD in funds Low and his family had misappropriated from the 1MDB./.