MACC Has Recovered RM23 Million 1MDB Assets Since Last Year

MACC Has Recovered RM23 Million 1MDB Assets Since Last Year

The Malaysian Anti-Corruption Commission says that it has recovered more than RM23 million assets originally belonging to 1MDB since 2023. This brings the total amount recovered from the sovereign fund scandal to RM29.03 billion.

Most of the assets were recovered through civil forfeiture applications under the Anti-Money Laundering, Anti-Terrorist Financing and Proceeds of Unlawful Activities Act 2001, while some were as a result of voluntary returns by five individuals.

A mix of cash, property, and other unnamed assets were returned to the Malaysian government in operations lasting through out 2023 and early 2024; the most recent of which took place on 5 February.

“In total, since 2019 to date, a total of RM29.03 billion of 1MDB assets has been successfully returned through the cooperation of MACC and the Special Task Force on 1MDB Asset Recovery as well as foreign agencies,” the commission said in a press statement.

The total amount stolen from the 1MDB is estimated to be worth around $4.5 billion. A large portion of the assets recovered since the scandal was uncovered in 2015 came from US authorities returning stolen funds, as well as from investment company Goldman Sachs paying $2.5 billion to settle a probe into their role in the proceedings.

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