The Department of Justice estimates that US$4.5 billion was siphoned out of Malaysia between 2009 and 2014.
The US Department of Justice said on Tuesday it has repatriated another US$300 million to Malaysia in recovered money misappropriated from 1Malaysia Development Berhad, or 1MDB, the country's sovereign wealth fund.The DOJ has estimated that US$4.5 billion was siphoned out of Malaysia by high-level fund officials and their associates between 2009 and 2014 in a scandal that has also embroiled Goldman Sachs Group Inc.
The Justice Department last year said it had recovered US$1 billion in assets associated with the corruption scandal, its largest-ever civil forfeiture. The funds were originally scheduled to be returned in February but were delayed first due to technical issues and then because of uncertainty over the political upheaval in Kuala Lumpur.
"The payment reflects the United States’ continuing commitment to the Malaysian people to hunt down, seize, forfeit and return assets that were acquired in connection with this brazen scheme," Assistant Attorney General Brian A Benczkowski of the agency's Criminal Division said in the statement.
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