Pn Led Putrajaya To Fully Cooperate In Recovery Of More 1mdb Funds Tengku Zafrul

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Finance Minister Tengku Zafrul Tengku Abdul Aziz today assured the Perikatan Nasional-led government will continue to cooperate in both local and overseas investigations into the misappropriation of 1MDB funds and their recovery
This comes after the US, which had previously suspended the repatriation of seized 1MDB funds after the PN came to power, agreed to resume the return of the misappropriated funds with a tranche of RM300 million credited this month
"The recovery of 1MDB-related assets is still ongoing, and the Finance Ministry will continue to extend its fullest cooperation to all domestic and offshore investigating entities to ensure equally positive outcomes from these efforts in future," he said in a statement today
Tengku Zafrul (photo) also provided a breakdown of the repatriated funds since the 1MDB recovery efforts began in June 2018 totalling US$620 million
They are as follow:1) US$57 million from the proceeds of the settlement with Red Granite Pictures (credited in March 2019)
2) US$137 million from the sale proceeds of Jho Low’s interest in the Park Lane Hotel (credited in April 2019)
3) US$126 million from the judicial sale of the luxury yacht Equanimity, by the Malaysian Admiralty Court (credited into the trust account in December 2019)
4) US$300 million (credited in April 2020) to Malaysia
Earlier today, Prime Minister Muhyiddin Yassin announced the return of the US$300 million tranch
Confirming the receipt of the money, Tengku Zafrul thanked the US government for the recovery of the funds
"I would like to convey our appreciation to the US government and the Department of Justice (DOJ) for their efforts in recovering these assets which rightfully belong to Malaysia
"On behalf of the government, I would like to express our gratitude to the US embassy in Kuala Lumpur, and in particular, Her Excellency Ambassador Kamala Shirin Lakhdhir, with whom the Finance Ministry and the Attorney-General Chambers have been in constant contact in recent weeks
"The deeply collaborative spirit of our negotiations had facilitated the swift repatriation of the monies back to the Malaysian people," Tengku Zafrul said
He also acknowledged the support of Malaysia's counterparts in the various country in helping Malaysia to recover 1MDB's misappropriated assets
The DOJ has estimated that US$4.5 billion (RM19.5 billion) from 1MDB was allegedly misappropriated by high-level fund officials and their associates - including former prime minister Najib Abdul Razak and businessperson Low Taek Jho - between 2009 and 2015
Low had been charged absentia in several countries, including Malaysia and the US
He has denied any wrongdoing, including claims that he was the mastermind behind the 1MDB scam and has refused to return to Malaysia to face trial, alleging political persecution by the then Dr Mahathir Mohamad-led Pakatan Harapan government
Najib is also facing multiple criminal charges in relation to 1MDB
The scandal, dubbed one of the largest global financial scandals in history, involved money believed to be laundered through banking institutions in several countries and bankers from Goldman Sachs Group, Inc
Goldman Sachs apologised to Malaysia last year over the role of its bankers, including its former Asia CEO Tim Leissner, in the scandal. - Mkini

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