The US ambassador says the returned assets can be used for the original purpose of improving the lives of ordinary Malaysians.
Malaysia has been returned $156 million in assets linked to the 1MDB scandal after a US-led investigation, the US embassy in Kuala Lumpur said.
US Ambassador to Malaysia Edgard D Kagan said the funds were the fourth tranche of assets to be returned to the country following an investigation by the US Department of Justice.
“This extraordinary sum of money will return to the people of Malaysia, where it belongs and where it can finally be used for its original purpose: to improve the lives of ordinary Malaysians,” Kagan said in a statement released late by the embassy. THURSDAY.
Kagan met with Malaysian Prime Minister Anwar Ibrahim on Tuesday to confirm the latest tranche, which brings the total amount of funds returned to $1.4 billion, the embassy said.
U.S. officials estimate that more than $4.5 billion was embezzled from Malaysia’s state fund 1MDB by senior officials and their associates.
The resulting scandal marked the start of Malaysia’s first change of government in six decades, sparked investigations in six countries and led to the conviction of former Malaysian Prime Minister Najib Razak and former banker by Goldman Sachs Roger Ng.
Malaysia announced earlier this year that it had recovered property and other assets worth 23.9 million ringgit ($5 million) from 1MDB, which was set up by Najib to boost the economic development.
In February, Malaysia’s pardon board halved Najib’s 12-year prison sentence and reduced the fine imposed on him from 210 million ringgit ($44.5 million) to 50 million ringgit ($10.6 million).
Jho Low, a Malaysian financier believed to be the mastermind of the scheme, was indicted in 2018 but remains at large.
Malaysian officials said Low was in China, which Beijing denied.
