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U.S. returns over $460 million from 1MDB funds to Malaysia

Christian Fernsby |
Malaysia on May 12 said the U.S. Department of Justice has returned 1.9 MYR (460.22 million USD) retrieved of funds recovered from assets related to the 1Malaysia Development Berhad (1MDB) fund.

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Topics: U.S.    MALAYSIA   

Malaysian and US. investigators said at least 4.5 billion USD was stolen from 1MDB between 2009 and 2014, in a wide-ranging scandal that has implicated high-level officials, .banks and financial institutions around the world.

The U.S. has been returning funds it has recovered from seized assets that were allegedly bought with stolen 1MDB money.

In a statement, the Finance Ministry of Malaysia said the country has so far received 16.05 billion MYR of seized and repatriated 1MDB funds.

It plans to use the recovered funds to repay liabilities of 1MDB and its former unit SRC.

The Malaysian government has so far repaid 12.4 billion MYR of 1MDB's debt and 3.1 billion MYR of SRC's debt, the finance ministry said.

However, the fund still has 39.8 billion MYR in outstanding debt, while the unit SRC has 2.57 billion MYR of remaining debt, the ministry said.

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