US returns Malaysia RM720m in stolen 1MDB funds

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US returns Malaysia RM720m in stolen 1MDB funds

KUALA LUMPUR, June 14, 2024: The US has returned RM720 million in recovered 1Mlaysia Development Berhad (1MDB) funds to Malaysia.

This clearly shows disgraced and shameless former prime minister Najib “1MDB” Razak is as guilty as hell in the mismanagement of the so-called Sovereign Wealth Fund (SWF).

Will the US, or for that matter anyone, return any money if it was not stolen?

And that is why the jailbird Najib is still in prison serving time for being a kleptocrat.

But the Government continues to show leniency and is considering placing him under house arrest - meaning backdoor freedom for the world’s biggest kleptocrat.

No News Is Bad News reproduces below a news report on the return of the stolen 1MDB funds:

MALAYSIA

US returns RM720 million in recovered 1MDB funds to Malaysia

This means a total of US$1.4 billion of stolen money has been returned to the country.

Updated 37 minutes ago · Published on 14 Jun 2024 8:27AM

1MDB officials and their relatives and associates are believed to have stolen more than US$4.5 billion from the sovereign wealth fund. – The Vibes file pic, June 14, 2024.

MALAYSIA will receive from the United States US$156 million (RM721.4 million) in recovered assets linked to 1Malaysia Development Bhd (1MDB).

US ambassador to Malaysia Edgard D. Kagan said he met with Prime Minister Datuk Seri Anwar Ibrahim on June 11 to discuss the return of the funds, representing the fourth instalment of the assets recovered in the United States.

“We are very happy that this fourth tranche of assets from the Justice Department investigation is being transferred back to Malaysia," Kagan said in statement.

“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.”

This means Malaysia will have received US$1.4 billion in misappropriated 1MDB funds from the US.

1MDB officials and their relatives and associates are believed to have stolen more than US$4.5 billion from the sovereign wealth fund.

The co-conspirators laundered the funds through a series of complex transactions and shell companies with bank accounts in the US and abroad. –  June 13, 2024