U.S. To Return $200 Million In 1MDB Funds To Malaysia: Sources

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U.S. authorities will this month return $200 million stolen from Malaysia’s state fund 1MDB, including money from a stake in a luxury New York hotel and from a Hollywood movie producer, two sources with direct knowledge of the matter said.

The U.S. Department of Justice, in the biggest ever case in its anti-kleptocracy program, is pursuing billions of dollars it says were misappropriated from 1MDB, a state fund founded by former Malaysian prime minister Najib Razak.

Prime Minister Mahathir Mohamad, who defeated Najib in a shock election result last year, is working with at least six countries to recover about $4.5 billion the U.S. Department of Justice says was stolen from 1MDB.

“I think they know it is our money, so they will give back our money,” Mahathir told a news conference after confirming the $200 million figure.

Read the original article here: reuters.com


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