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Govt Has Recovered Almost RM1 Billion From Misappropriated 1MDB Money So Far

1MDB scandal, one that is described as “the largest kleptocracy case”, has stained the name of our country over the past few years. And now, the silver lining is that a sizeable chunk of misappropriated money has returned to Malaysia.

Finance Minister Lim Guan Eng revealed today (Jul 30) that RM925.1 million stolen from 1MDB has been recovered by the government as of July 11, 2019, Malaysiakini reported.

Source: Malaysiakini

Lim made the revelation when he was responding to Nibong Tebal MP Mansor Othman in a written parliamentary reply. He said the RM925.1 million sum includes the RM6.1 million returned to Yayasan 1MDB.

“The process to recover 1MDB funds which were misappropriated is underway, and it is a complicated and lengthy process which could take years.

“This is because it not only involves cooperation between local agencies with various foreign agencies from all sorts of countries, but it also involves the legal process in the courts of foreign countries.

A Picasso’s drawing Jho Low bought for Leonardo DiCaprio with money allegedly from 1MDB. Source: Bloomberg

“The government cannot detail the next steps that will be taken because it involves investigation and legal action,” the Finance Minister said.

Lim said his Ministry will continue work harder with Attorney-General’s Chambers and other authorities to recover all the stolen 1MDB funds and bring justice to suspects of this global financial scandal.

That is a lot of money! Good job, the government of the day. 

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