Malaysia secures the return of twelve high-value paintings linked to 1MDB, valued at over USD30 million, following talks with US authorities.
PUTRAJAYA: Malaysia has secured the return of twelve high-value paintings linked to 1Malaysia Development Berhad (1MDB)Â following a formal agreement with the US Department of Justice (USDOJ).
The Malaysian Anti-Corruption Commission (MACC) said that the paintings owned by Jasmine Loo, which were held by auction houses Christie’s and Sotheby’s, are valued at over USD30 million.
In a statement today, MACC said the agreement followed two rounds of official talks with the Federal Bureau of Investigation (FBI) and USDOJ in Washington DC and New York on Dec 9 and 11, last year.
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Among the identified artworks are Pablo Picasso’s 1961 painting L’Ecuyere et les clowns, Joan Miró’s Composition (1953), William H. Bailey’s Still Life (b.1930); Alexander Calder’s Studies for Sculpture(1898-1976); and Henri Matisse’s Femme Assise(1869-1954).
MACC said the discussions also included the case of US rapper Pras Michel, who was sentenced to 14 years in prison for receiving USD120 million, a sum partly linked to 1MDB and its shell companies.
“Additionally, the USDOJ informed us that there are still assets belonging to Jho Low in Singapore, which were not included in the US Settlement Agreement,” read the statement.
Discussions also reportedly covered the cases of Tim Leissner, Tarek Obaid and PetroSaudi, alongside Riza Aziz and the law firm White & Case.
The statement concluded by noting the FBI and USDOJ’s full commitment to strengthening cross-border cooperation and international coordination with MACC, the Attorney General’s Chambers (AGC) and the National Financial Crime Prevention Centre (NFCC), to ensure all outstanding overseas assets are traced, seized and recovered.
Meanwhile, MACC confirmed that assets in Hong Kong, Singapore, and France have been liquidated, with the proceeds to be transferred to the United States.
The Malaysian delegation to the talks was led by MACC’s Special Operations Division senior director, Datuk Mohamad Zamri Zainul Abidin, accompanied by NFCC director general, Datuk Seri Shamshun Baharin Mohd Jamil, and deputy public prosecutor Norinna Bahadun.
The discussions with the FBI and USDOJ aimed to enhance global cooperation between the two agencies, specifically to strengthen joint investigations, mutual legal assistance processes, and the recovery of remaining 1MDB-related assets overseas. – Bernama
