US to recover another US$20mil in stolen 1MDB funds

Free Malaysia Today

In June last year, it was reported that the US justice department had returned approximately RM6.6 billion in misappropriated funds.  Read More:  https://www.freemalaysiatoday.com/category/nation/2025/01/20/us-to-recover-another-us20-million-in-stolen-1mdb-funds/  Free Malaysia Today is an independent, bi-lingual news portal with a focus on Malaysian current affairs.    Subscribe to our channel - http://bit.ly/2Qo08ry   ------------------------------------------------------------------------------------------------------------------------------------------------------ Check us out at https://www.freemalaysiatoday.com Follow FMT on Facebook: https://bit.ly/49JJoo5 Follow FMT on Dailymotion: https://bit.ly/2WGITHM Follow FMT on X: https://bit.ly/48zARSW  Follow FMT on Instagram: https://bit.ly/48Cq76h Follow FMT on TikTok : https://bit.ly/3uKuQFp Follow FMT Berita on TikTok: https://bit.ly/48vpnQG  Follow FMT Telegram - https://bit.ly/42VyzMX Follow FMT LinkedIn - https://bit.ly/42YytEb Follow FMT Lifestyle on Instagram: https://bit.ly/42WrsUj Follow FMT on WhatsApp: https://bit.ly/49GMbxW  ------------------------------------------------------------------------------------------------------------------------------------------------------ Download FMT News App: Google Play – http://bit.ly/2YSuV46 App Store – https://apple.co/2HNH7gZ Huawei AppGallery - https://bit.ly/2D2OpNP  #FMTNews #1MDB #JhoLow #NajibRazak

Transcript

00:00The United States has agreed to recover an additional 20 million U.S. dollars

00:05in misappropriated 1MDB funds, the U.S. Department of Justice said in a statement last week.

00:11In June last year, the DOJ said it had recovered, returned, and assisted in returning to Malaysia

00:17approximately 1.4 billion U.S. dollars, which had been misappropriated.

00:22At the time, the U.S. embassy said the sum represented the fourth installment of funds

00:27recovered from asset seizures related to the scandal-plagued state investment arm.

00:32In 2020, the DOJ said it was seeking to recover 96 million U.S. dollars in assets linked to 1MDB.

00:401MDB was a sovereign fund set up in 2009 with the help of financier Low-Tick Joe or Joe Low

00:46and co-founded by former Prime Minister Najib Razak to promote economic development.

00:52However, the DOJ discovered that some 4.5 billion U.S. dollars of the funds

00:57had been diverted to offshore bank accounts and shell companies,

01:01many linked to Low who was last reported to be hiding in Macau.

01:05Hanyu Zhou, FMT News.

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