Four high-value paintings linked to the 1MDB scandal have been returned to Malaysia and are now secured at the MACC headquarters in Putrajaya for authentication and valuation.
PETALING JAYA: Four high-value artworks linked to the misappropriation of 1Malaysia Development Bhd (1MDB) funds have been returned to Malaysia and placed under tight security at the Malaysian Anti-Corruption Commission (MACC) headquarters in Putrajaya.
The MACC confirmed that the collection comprises Joan Miró’s Composition (1953), Maurice Utrillo’s Maison de rendez-vous de chasse de Henri IV, Rue St Vincent, Montmartre (1934), Balthus’ Étude pour femme couchée (1948) and Pablo Picasso’s L’Ecuyère et les clowns (1961).
The artworks have an estimated value of US$198,125 (approximately RM786,556).
The paintings are currently undergoing a period of acclimatisation before being curated, authenticated and valued by the National Visual Arts Development Berhad.
“The return of these artworks not only symbolises Malaysia’s continued success in recovering misappropriated assets but also strengthens the country’s standing in implementing international best practices in asset recovery,” the MACC said in a statement today.
To date, Malaysia has successfully recovered approximately RM31.2 billion in assets linked to 1MDB, representing nearly 70 per cent of the total identified assets.
On Dec 13 last year, the United States Department of Justice agreed to return a collection of 12 artworks, valued at over US$30 million, to Malaysia as part of ongoing recovery efforts.
The works, which are linked to former 1MDB general counsel Jasmine Loo, were previously held by major international auction houses, including Christie’s and Sotheby’s.
The four paintings returned to Putrajaya today form part of that wider collection; the remaining eight artworks are currently still in the retrieval process.
