MALAYSIA hopes to soon recover US$7 billion (RM29 billion) which was allegedly stolen from state investor 1Malaysia Development Bhd (1MDB), said Prime Minister Dr Mahathir Mohamad.

The prime minister said he has reached out to Switzerland and Singapore for help in tracking the stolen money.

Dr Mahathir said he is aware the United States is preparing to repatriate to Malaysia about US$200 million (RM828 million) in allegedly misappropriated funds.

“They’re giving it back. I’ve heard about it. They will give back the money and Singapore will also give back the money. They know it is our money,” Dr Mahathir said after a Pakatan Harapan presidential meeting this evening.

Earlier today Bloomberg reported that the US will return US$200 million to Malaysia – US$140 million of which is from the sale of a stake in New York’s Park Lane Hotel and the remainder from a settlement paid by the producer of Hollywood blockbuster, Wolf of Wall Street.

The report stated the money could be transferred as soon as next week.

Singapore authorities are also reported to be preparing to return about S$35 million (RM106 milion) surrendered by former Goldman Sachs banker Roger Ng and his family in connection with the case against him over his role in the 1MDB scandal.

This week, as part of the terms of a civil forfeiture suit, Low Taek Jho will hand over to US authorities a US$1.7 million set of diamond jewellery that the fugitive businessmen allegedly bought for his mother with 1MDB money. – May 3, 2019.