Home Economy Malaysia recovers over $4 million in 1MDB assets between 2023 and Feb 2024

Malaysia recovers over $4 million in 1MDB assets between 2023 and Feb 2024

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KUALA LUMPUR — Malaysia has recovered more than 23 million ringgit ($4.83 million) in assets related to scandal-hit state fund 1Malaysia Development Berhad (1MDB) between 2023 and February 2024, its anti-graft agency said on Thursday.

The funds were recovered through court orders and the voluntary surrender of assets, the Malaysian Anti-Corruption Commision (MACC) said.

Malaysian and US investigators estimate $4.5 billion were stolen from 1MDB, implicating former Malaysian Prime Minister Najib Razak, Goldman Sachs GS.N staff and high-level officials elsewhere.

Mr. Najib was sentenced to 12 years prison after being convicted in a case linked to the 1MDB scandal but had his sentence halved last week by a Malaysian pardons board. — Reuters

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