Monday, December 6, 2021

US$16.3 million in 1MDB funds returned from Singapore, says MACC

Malaysia has recovered about RM20.5 billion in 1MDB assets so far.

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Singapore has recently returned to Malaysia about US$16.3 million linked to a multibillion-dollar scandal at state fund 1MDB, the Malaysian Anti-Corruption Commission (MACC) said today.

US authorities say about US$4.5 billion was siphoned from 1MDB between 2009 and 2014, in a globe-spanning theft that has implicated high-ranking officials and financial institutions in multiple countries.

Putrajaya has said billions more remain unaccounted for.

Malaysia has recovered about RM20.5 billion (US$4.90 billion) in 1MDB assets so far, MACC said in a statement.

Efforts to recover more are ongoing, in countries including Switzerland, Kuwait, Mauritius, Cyprus, and Hong Kong, it added.

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