ANOTHER RM14.6 million worth of assets related to the 1Malaysia Development Bhd (1MDB) case has been recovered and returned to the government, bringing the total assets recovered to RM29.75 billion
In a statement, the Malaysian Anti-Corruption Commission (MACC) said this was equivalent to 70 per cent of the RM42 billion believed to have been misappropriated.
The RM14.6 million comprised multiple foreign currencies of S$1.39 million, US$85,868.53, NZ$ 344,163.76 and A$ 3.18 million.
"The recovered funds have been deposited into the Assets Recovery Trust Fund under the Finance Ministry."
MACC added that some RM12.97 million has been returned to the government from the sale of properties and the transfer of funds from the accounts of Tan Kim Loong, a Malaysian citizen linked to Low Taek Jho.
"The fund transfers to the Assets Recovery Trust Fund were done on Feb 18, March 7 and March 10.
"About RM1.69 million has been recovered from Yak Yew Chee, a Singaporean and former banker who was convicted in Singapore for his involvement in the 1MDB case.
"The funds have been credited to the Assets Recovery Trust Fund on Jan 21 last year," the statement said.
"The successful asset recovery demonstrates the MACC's capability and ongoing commitment to repatriating illegally obtained assets.
"It also reflects the effectiveness of the collaboration between the MACC and Singapore's Commercial Affairs Department (CAD) in combating corruption and money laundering.
"The MACC remains committed to recovering misappropriated national assets and will continue working with international authorities to address corruption and financial crime cases," it added. – March 17, 2025
