U.S. DOJ Remits $452 Million of Seized 1MDB Funds to Malaysia

The U.S. Department of Justice has remitted about 1.9 billion ringgit ($452.4 million) of seized 1MDB funds to the Malaysian government, according to a statement by the finance ministry.

  • The funds have been placed in Malaysia’s Assets Recovery Trust Account, the statement said Wednesday. So far, the account has received 16.05 billion ringgit of seized and repatriated 1MDB funds, which will be used to repay debts of 1MDB and former unit SRC International Sdn.
  • The government has so far repaid 12.4 billion ringgit of 1MDB’s debt and 3.1 billion of SRC’s debt. The balance of debts still outstanding currently total 39.8 billion ringgit (1MDB) and 2.57 billion ringgit (SRC).
  • The balance excludes the settlement amount that will be received by Deloitte PLT and AmBank Group, the statement said, adding that negotiations are also currently ongoing with KPMG
  • Read: After Goldman, Malaysia’s 1MDB Pursues JPMorgan and Deutsche

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