Malaysia recovers over $4 mln in 1MDB assets between 2023 and Feb 2024

Malaysia has recovered more than 23 million ringgit ($4.83 million) in assets related to scandal-hit state fund 1Malaysia Development Berhad (1MDB) between 2023 and February 2024, its anti-graft agency said on Thursday.

The funds were recovered through court orders and the voluntary surrender of assets, the Malaysian Anti-Corruption Commision (MACC) said. Malaysian and U.S. investigators estimate $4.5 billion were stolen from 1MDB, implicating former Malaysian Prime Minister Najib Razak, Goldman Sachs staff and high-level officials elsewhere.

Najib was sentenced to 12 years prison after being convicted in a case linked to the 1MDB scandal but had his sentence halved last week by a Malaysian pardons board.

($1 = 4.7620 ringgit)