The United States Ambassador to Malaysia, Edgard D Kagan, announced that Malaysia has received $156 million in assets linked to the 1MDB scandal, marking the fourth tranche returned to the country as a result of an investigation by the US Department of Justice.
In a statement released by the embassy, Kagan emphasized the significance of these funds returning to the Malaysian people, where they can be utilized for their original intended purpose – to improve the lives of everyday Malaysians.
Kagan’s confirmation of the latest tranche came after a meeting with Malaysian Prime Minister Anwar Ibrahim, bringing the total amount of returned funds to $1.4 billion. The scandal surrounding 1MDB involved the misappropriation of more than $4.5 billion by high-level officials and their associates, leading to significant political repercussions in Malaysia and investigations across multiple countries.
The fallout from the scandal resulted in the first change in Malaysia’s government in six decades and led to the convictions of former Prime Minister Najib Razak and ex-Goldman Sachs banker Roger Ng.
Malaysia has been actively pursuing the recovery of assets related to 1MDB, with earlier announcements this year indicating the recovery of property and assets worth 23.9 million ringgit ($5 million).
In a related development, Malaysia’s pardons board reduced Najib’s prison sentence and fine earlier this year.
Despite these efforts, Jho Low, a Malaysian financier suspected of masterminding the scheme, remains at large, with indictments against him dating back to 2018. Malaysian officials have claimed Low is in China, although Beijing has denied these assertions.
