PM orders continued tracing, recovery of stolen 1MDB funds

In a press statement, the Prime Minister’s Office (PMO) said Muhyiddin was briefed on the ongoing efforts of the special team tasked with tracking down the state investment firm’s funds abroad. — Reuters pic
In a press statement, the Prime Minister’s Office (PMO) said Muhyiddin was briefed on the ongoing efforts of the special team tasked with tracking down the state investment firm’s funds abroad. — Reuters pic

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KUALA LUMPUR, March 17 — Prime Minister Tan Sri Muhyiddin Yassin has ordered the continuation of efforts to recover the stolen 1Malaysia Development Berhad (1MDB) funds.

In a press statement, the Prime Minister’s Office (PMO) said Muhyiddin was briefed on the ongoing efforts of the special team tasked with tracking down the state investment firm’s funds abroad.

“The team consists of representatives from the Attorney General’s Chambers, the National Financial Crime Centre (NFCC), the Malaysian Anti-Corruption Commission (MACC), Royal Malaysia Police (PDRM), Bank Negara Malaysia (BNM) and the Ministry of Finance (MOF).

“At the briefing, the prime minister was informed that a sum of RM1.4 billion has been successfully returned through the efforts of the task force members, while another RM6.9 billion has been identified. The task force also provided details of the action taken to bring back 1MDB funds allegedly abused in 17 countries.

“The prime minister has directed efforts to track down and return 1MDB funds from various countries to continue,” the statement read.

Last week, former prime minister Tun Dr Mahathir Mohamad urged that United States to “think twice” before giving Malaysia back the money recovered from its anti-kleptocracy action linked to 1MDB, Reuters reported.

Reuters reported that the US Department of Justice (DoJ) returned nearly US$200 million to Malaysia in May.

However, it reported citing unnamed sources that a second transfer of about US$240 million was delayed last month, following uncertainties over Dr Mahathir’s resignation.

At least six countries are currently investigating the alleged graft and money laundering at 1MDB, a state-investment firm under the then prime minister Datuk Seri Najib Razak.

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