MALAYSIA will receive from the United States US$156 million (RM721.4 million) in recovered assets linked to 1Malaysia Development Bhd (1MDB).

US ambassador to Malaysia Edgard D. Kagan said he met with Prime Minister Anwar Ibrahim on June 11 to discuss the return of the funds, representing the fourth instalment of the assets recovered in the United States.

“We are very happy that this fourth tranche of assets from the Justice Department investigation is being transferred back to Malaysia,” Kagan said in statement.

“This extraordinary sum of money is going back to the people of Malaysia where it belongs and where it can finally be used for its original intended purpose – to better the lives of everyday Malaysians.”

This means Malaysia will have received US$1.4 billion in misappropriated 1MDB funds from the US.

1MDB officials and their relatives and associates are believed to have stolen more than US$4.5 billion from the sovereign wealth fund.

The co-conspirators laundered the funds through a series of complex transactions and shell companies with bank accounts in the US and abroad. –  June 13, 2024