MACC recovers over RM29 billion in 1MDB assets

The commission said the total was a very high rate of recovery compared to the global rate of recovered assets and was the result of joint efforts and international collaborations.

17 Mar 2025 07:55pm
The total of 1MDB assets recovered so far stands at RM29,752,034,475.13, or 70 per cent of about RM4 billion believed to have been embezzled, the MACC said. - BERNAMA FILE PIX
The total of 1MDB assets recovered so far stands at RM29,752,034,475.13, or 70 per cent of about RM4 billion believed to have been embezzled, the MACC said. - BERNAMA FILE PIX

PUTRAJAYA - The total of 1Malaysia Development Berhad (1MDB) assets recovered so far stands at RM29,752,034,475.13, or 70 per cent of about RM4 billion believed to have been embezzled, the Malaysian Anti-Corruption Commission (MACC) said.

The commission said that the total was a very high rate of recovery compared to the global rate of recovered assets, and was the result of joint efforts and international collaborations.

The successful asset recovery proved that the MACC was committed to recovering the assets and its capability in doing so.

"It also reflects the effectiveness of the cooperation between the MACC and the Singapore Commercial Affairs Department (CAD) in tackling corruption and illegal money laundering,” the commission said in a statement today.

The assets returned so far amounted to RM14,670,676.61, including foreign currencies of SG$1,388,122.52, US$85,868.53, NZ$344,163.76 and AU$ 3,181,097.67.

"The funds have been deposited into the Finance Ministry’s Assets Recovery Trust Fund," the MACC said, adding that RM12,974,730.41 was returned to the government from the sale of property and fund transfers from the company account belonging to Tan Kim Loong, a Malaysian linked to Low Taek Jho.

"The fund transfer to the Assets Recovery Trust Fund occurred on Feb 18, 2025, March 7, 2025 and March 10, 2025,” the commission said.

Besides this, RM1,695,946.20 was recovered from Yak Yew Chee, a former Singaporean bank officer convicted in Singapore for his involvement in the 1MDB scandal.

"The funds were credited to the Assets Recovery Trust Fund on Jan 21, 2024," the MACC said, while reiterating its commitment to recover all embezzled national assets and cooperating with international authorities to tackle corruption related cases and financial crime. - BERNAMA

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Assets Recovery Trust Fund
MACC
1MDB
1MDB assets
money laundering
CAD
Jho Low
Tan Kim Loong

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