US returns over RM720mil to Malaysia in recovered 1MDB funds

PETALING JAYA: The United States returns around US$156mil (RM721.4mil) to the Malaysian Government marking the fourth installment of recovered misappropriated funds from the 1Malaysia Development Berhad (1MDB) scandal.

US Ambassador to Malaysia Edgard D. Kagan met Prime Minister Datuk Seri Anwar Ibrahim to confirm the handover of funds on June 11, according to a statement by the embassy.

“The United States is pleased that, with this transfer, it has been able to recover and assist in recovering and returning approximately US$1.4bil (RM6.6bil) in funds misappropriated from Malaysia to date.

“This extraordinary sum of money is going back to the people of Malaysia where it belongs and where it can finally be used for its original intended purpose – to better the lives of everyday Malaysians,” said Kagan in the statement.

The US government has reiterated its commitment to continue working towards the recovery and return of additional stolen funds from 1MDB for the benefit of the Malaysian people.