THE Department of Justice is seeking to recover US$300 million (RM1.3 billion) assets as part of its probe into 1Malaysia Development Bhd funds, reports Reuters.

The US$300 million is traced to a line of credit from Venezuelan state oil company Petroleos de Venezuela SA to Saudi’s PetroSaudi Oil Services in an oil-drilling venture, the report said.

The funds are allegedly held in a UK account.

The department is also seeking four dozen promotional movie posters that Riza Aziz, the stepson of former prime minister Najib Razak, bought for more than US$4 million using 1MDB funds.

In May, Riza was granted a discharge not amounting to acquittal (DNAA) after forfeiting assets allegedly linked to 1MDB, estimated at US$107.3 million.

This is in addition to the US$57 million which was forfeited earlier in April 2019 from Red Granite Pictures, a company co-owned by Riza, the funds of which were traceable to 1MDB.

In July, Najib was found guilty of all seven criminal charges for having received RM42 million in funds from SRC International.

The Pekan MP’s 1MDB trial is ongoing where he faces four counts of abuse of power to enrich himself with RM2.3 billion from the sovereign fund and 21 counts of laundering the same amount. – September 17, 2020.