USD300 Million from 1MDB Monies Returned to Malaysia

PMO

PRESS STATEMENT
PRIME MINISTER OF MALAYSIA

USD300 MILLION FROM 1MDB MONIES RETURNED TO MALAYSIA 

The Government of Malaysia (“Malaysia” or “the Government”) is pleased to announce that US$300 million, from 1Malaysia Development Berhad (1MDB), has been returned to Malaysia by the Government of the United States of America (US).This represents the funds recovered from asset seizures related to 1MDB under the Kleptocracy Asset Recovery Initiatives of the US Department of Justice (DOJ).

On 30 October 2019, Malaysian fugitive Jho Low had reached a settlement with the DOJ pertaining to numerous forfeiture claims filed by the DOJ against assets he had purchased using 1MDB monies. The US$300 million represents some of those assets which had been forfeited and later sold. It also includes proceeds from 1MDB-linked assets that were given up or forfeited by individuals linked to Jho Low.

The Government of Malaysia is pleased to share that thus far, inclusive of this most recent tranche of US$300 million, a total of US$620 million of 1MDB monies – in the form of sales proceeds or assets – have been returned to Malaysia. The process to sell Jho Low’s remaining forfeited assets under the DOJ consent forfeiture judgment is ongoing.

I would like to express my gratitude to the US Government, particularly the US Embassy in Kuala Lumpur, on their excellent assistance and cooperation in facilitating the return of the US$300 million. I would also like to commend Malaysia’s Minister of Finance and the Attorney-General for their role in the negotiation process.

1MDB asset recovery efforts are ongoing, and the Government will continue to work with the US, the DOJ and other Governments to recover and repatriate more 1MDB monies in the future.

YAB Tan Sri Muhyiddin Hj Mohd Yassin
Prime Minister of Malaysia
15 April 2020

 

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