PUTRAJAYA — The total of 1Malaysia Development Berhad (1MDB) assets recovered so far now stands at RM29,752,034,475.13, or 70% of about RM4 billion believed to have been embezzled, the Malaysian Anti-Corruption Commission (MACC) said.
This is a “very high rate of recovery” compared to the global rate of recovered assets, and was the result of joint efforts and international collaborations, the agency said in a statement.
The successful asset recovery proved that the MACC was committed to recovering the assets and its capability in doing so.
“It also reflects the effectiveness of the cooperation between the MACC and the Singapore Commercial Affairs Department (CAD) in tackling corruption and illegal money laundering,” the commission said.
The assets returned so far amounted to RM14,670,676.61, including foreign currencies of SG$1,388,122.52, US$85,868.53, NZ$344,163.76 and AU$ 3,181,097.67.
“The funds have been deposited into the Finance Ministry’s Assets Recovery Trust Fund,” the MACC said, adding that RM12,974,730.41 was returned to the government from the sale of property and fund transfers from the company account belonging to Tan Kim Loong, a Malaysian linked to Low Taek Jho.
“The fund transfer to the Assets Recovery Trust Fund occurred on Feb 18, 2025, March 7, 2025 and March 10, 2025,” the commission said.
Besides this, RM1,695,946.20 was recovered from Yak Yew Chee, a former Singaporean bank officer convicted in Singapore for his involvement in the 1MDB scandal.
“The funds were credited to the Assets Recovery Trust Fund on Jan 21, 2024,” the MACC said. – March 18, 2025