MACC has updated on the fund recovery of 1MDB within the country and abroad, with another RM23,911,460.90 being recovered, this was possible from the money and assets successfully obtained through the forfeiture process including in court and voluntary surrender involving five individuals.
The authority said this was from the success of tracking and recovering 1MDB funds carried out by the Anti-Money Laundering Division of MACC in 2023 and most recently on 5 February 2024. Accordingly, money amounting to RM556,275.64 was successfully obtained on 30 August 2023 from Nurzahid Taib, a 1MDB official, who received 1MDB funds for the Maximus Project and the Catalyze Project which were deposited into the company account of Turquoise Coast Offshore Incorporated, in which this individual has an interest . This money was obtained through an Account Release Order under Section 60 of the Anti-Money Laundering, Anti-Terrorist Financing and Proceeds of Unlawful Activities Act 2001.
On 26 June 2023. On 29 September 2023, money amounting to USD972,251.25 or the equivalent of RM4,551,399.45 was successfully returned to the Malaysian Government through a voluntary handover by Datuk Amhari Effendi, who is a Special Officer to Dato’ Sri Najib Razak, through a money transfer from BSI Bank Switzerland. Meanwhile, on 8 November 2023, the Kuala Lumpur Criminal High Court gave an order to confiscate three condominium units totaling RM7.05 million belonging to Mohammad Kamal Yan Yahaya, Foreign Affairs Adviser to Dato’ Seri Najib Razak. This individual has received 1MDB funds through Project Magnolia, Project Maximus and Project Catalyze into the company account of Spring Elite International Limited at BSI Bank, Singapore, in which he has an interest. These three asset recovery processes have been obtained following the trial of former bank officer at Goldman Sachs, Ng Chong Hwa or better known as Roger Ng at the Brooklyn Federal Court, United States in February 2022 for alleged complicity in the misappropriation of 1MDB funds.
MACC said following this active asset recovery process, on February 5, 2024, the Kuala Lumpur High Court ordered the assets belonging to associates of Jho Low or Low Taek Jho, i.e. Jerome Lee Tak Loong and his wife, Koay Ying Ying in Malaysia and in Singapore which totaled RM11,753,785.81 was forfeited to MACC. This forfeiture application was made under Section 56 and Section 64 of the Anti-Money Laundering, Anti-Terrorist Financing and Proceeds of Unlawful Activities Act 2001 (AMLATFPUAA 2001).
