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Malaysia in transition

US returns another $300m of recovered 1MDB funds to Malaysia

Assets recovered included high-end real estate in Beverly Hills, New York and London

Former Malaysian Prime Minister Najib Razak prays with his supporters before entering a court room at Kuala Lumpur High Court in Kuala Lumpur in December  2019. Najib's government set up 1MDB fund in 2009.    © Reuters

WASHINGTON (Reuters) -- The U.S. Department of Justice on Tuesday said it has repatriated another $300 million to Malaysia in recovered money misappropriated from 1Malaysia Development Berhad, or 1MDB, the country's sovereign wealth fund.

The government of former Malaysian Prime Minister Najib Razak set up the 1MDB fund in 2009. The DOJ estimated $4.5 billion was siphoned out of Malaysia by high-level fund officials and their associates between 2009 and 2014 in a scandal that has also embroiled Goldman Sachs.

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