Malaysia set to recover another $88 million linked to 1MDB

Newly minted MACC chief Latheefa Koya said that the civil forfeiture applications were filed against 41 people and entities.
Newly minted MACC chief Latheefa Koya said that the civil forfeiture applications were filed against 41 people and entities. PHOTO: REUTERS

PUTRAJAYA - Malaysia is set to recover another RM270 million (S$88 million) from the 1Malaysia Development Berhad (1MDB) scandal, after graftbusters filed applications to forfeit properties which were derived from the personal bank account of disgraced premier Najib Razak.

Newly minted Malaysian Anti-Corruption Commission chief Latheefa Koya said on Friday (June 21) that the civil forfeiture applications were filed against 41 people and entities, including Umno branches, at the Kuala Lumpur High Court two days ago.

"The respondents were identified via transactions from Najib's personal bank account," she told reporters at a press conference.

Ms Latheefa added that the MACC has so far recovered roughly RM919 million.

"The sum was returned by those who found that the money was proceeds from unlawful activities. To avoid action taken against them, they returned it," she said.

Under Section 56 of the Anti-Money Laundering Act, public prosecutor can apply to a judge for an order for a property to be forfeited if it comes from the proceeds of unlawful activities.

However, if no such application is made, the seized item must be released to the person from whom it was seized after 12 months.

 

Last year, Malaysia's former deputy police chief Noor Rashid Ibrahim said more than 50 people, including political figures, received money that can be traced to the billions of ringgit of 1MDB-linked funds that went into Najib's bank account.