The government of former Malaysian Prime Minister Najib Razak set up the 1MDB fund in 2009. (Photo: AFP)
KualaLumpur (VNA) - The US Department of Justice (DoJ) on April 14 said ithas repatriated another 300 million USD recovered from assetseizures 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 thathas been "embezzled" from the 1MDB fund under the governance of formerMalaysian Prime Minister Najib Razak.
Along with other amounts returned to Malaysia a year ago, the US has so farhelped Malaysia recover more than 1 billion USD lost in the corruption scandal.
Najib founded the 1MDB investment fund in 2009, supposedly toserve Malaysia’s development through global partnerships and foreign directinvestment.
Malaysian and US investigators believe that the fund haslooted about 4.5 billion USD, about 1 billion USD of which was sent to theNajib’s personal bank account.
The allegations contributed to Nazib’s shock election loss in2018 and he has since been put on trial over the scandal. At least sixcountries are investigating the scandal.
Last September, the DoJ reached a deal with Malaysianfinancier Jho Low to retake almost 1 billion USD in funds Low and his familyhad misappropriated from the 1MDB./.
