The MACC is arranging the return of a USD30 million art collection linked to 1MDB, with assets held by Christie’s and Sotheby’s being shipped back to Malaysia.
KUALA LUMPUR: The Malaysian Anti-Corruption Commission is arranging the return of high-value 1MDB assets currently held overseas.
A source said a portfolio of 12 major works belonging to Jasmine Loo is held by US auction houses Christie’s and Sotheby’s.
The collection includes works by Pablo Picasso, Joan Miró and Henri Matisse, collectively valued at over USD30 million.
“The assets under the custodianship of Sotheby’s are currently in the process of being shipped to Malaysia,” the source said.
Assets held by Christie’s can only be surrendered following a US court order through cooperation with the Department of Justice.
The source added that retrieval costs are substantial, requiring specialised storage and coordination with foreign agencies.
The return was agreed as part of the broader 1MDB asset recovery initiative following bilateral discussions.
MACC senior director Datuk Mohamad Zamri Zainul Abidin confirmed the commission is investigating and tracing 1DB-linked assets globally.
He said recent inquiries also target Casey Tang, who is linked to the case and allegedly owns overseas property.
