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Saturday, August 14, 2021
Volume:
37
Issue:
8
Abstract:
On August 5, 2021, the United States Department of Justice announced it has returned an additional $452 million in embezzled 1Malaysia Development Berhad (1MDB) funds it has forfeited to the people of Malaysia. The U.S. has now returned over $1.2 billion in forfeited 1MDB funds.[1]
Court documents show the funds from 1MDB, formerly Malaysia’s investment development fund, were laundered through major financial institutions worldwide, including in the U.S., Switzerland, Singapore, and Luxembourg.
[1] U.S. Department of Justice, Over $1 Billion in Misappropriated 1MDB Funds Now Repatriated to Malaysia, Press Rel. 21-740, Aug. 5, 2021.