Malaysia is working with the US to return the stolen funds, used to buy a New York hotel and fund a movie, while Goldman Sachs faces criminal charges
Leonardo DiCaprio as Belfort in The Wolf of Wall Street, partly funded by money taken from Malaysia's 1MBD state fund. Picture: FINANCIAL MAIL
The US department of justice, in the biggest ever case in its anti-kleptocracy programme, is pursuing billions of dollars it says were misappropriated from 1MDB, a state fund founded by former Malaysian prime minister Najib Razak. The tranche of money being returned by the US includes $140m from the sale of a stake in New York’s Park Lane Hotel, after it was given up by fugitive financier Low Taek Jho, known as Jho Low, the two sources said.
The sources said the remaining money is the $60m from Red Granite Pictures, co-founded by Najib’s stepson Riza Aziz, which agreed in March 2018 to pay the US government to settle a civil lawsuit over allegations 1MDB money was used to finance the filmThe US department of justice did not immediately respond to a Reuters request for comment.
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