Saudi Press

Saudi Arabia and the world
Friday, Jul 11, 2025

US Returns $452 Million In 1MDB Funds To Malaysia

US Returns $452 Million In 1MDB Funds To Malaysia

Billions of dollars were stolen from 1Malaysia Development Berhad in a fraud that involved former premier Najib Razak, and spent on everything from a super-yacht to art.
The United States has returned $452 million to Malaysia related to the scandal-hit sovereign wealth fund 1MDB, authorities said Wednesday, as the Southeast Asian nation steps up efforts to recover looted cash.

Billions of dollars were stolen from 1Malaysia Development Berhad in a fraud that involved former premier Najib Razak, and spent on everything from a super-yacht to art.

Some of the looted money was spent in the United States and laundered through the American financial system, and authorities there have been clawing back funds and sending it to Malaysia.

The latest tranche to arrive from the United States is around 1.9 billion ringgit ($452 million), Malaysia's finance ministry said in a statement.

The US Justice Department remitted the money to a special "assets recovery" account in Malaysia, which has now received a total of 16.05 billion ringgit in 1MDB funds, the ministry said.

The account will be mainly used to repay debts of 1MDB and a former unit, SRC.

1MDB still has 39.8 billion ringgit in outstanding debt, the ministry said.

Najib's long-ruling coalition lost power in 2018 in large part due to the scandal, and since then authorities have been working to get back pilfered funds.

Last week, 1MDB sued units of Deutsche Bank, JPMorgan and Coutts in Malaysia for billions of dollars as part of these efforts.

Wall Street giant Goldman Sachs also became embroiled in the 1MDB scandal, after helping to raise billions of dollars for the fund.

The bank reached a $3.9 billion settlement with the Malaysian government last year in exchange for criminal charges being dropped.
Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
AI Raises Alarms Over Long-Term Job Security
Saudi Arabia Maintains Ties with Iran Despite Israel Conflict
Russia Formally Recognizes Taliban Government in Afghanistan
Mediators Edge Closer to Israel-Hamas Ceasefire Agreement
Emirates Airline Expands Market Share with New $20 Million Campaign
House Oversight Committee Subpoenas Former Jill Biden Aide Amid Investigation into Alleged Concealment of President Biden's Cognitive Health
Amazon Reaches Major Automation Milestone with Over One Million Robots
Meta Announces Formation of Ambitious AI Unit, Meta Superintelligence Labs
China Unveils Miniature Insect-Like Surveillance Drone
Marc Marquez Claims Victory at Dutch Grand Prix Amidst Family Misfortune
Iran Executes Alleged Israeli Spies and Arrests Hundreds Amid Post-War Crackdown
Trump Asserts Readiness for Further Strikes on Iran Amid Nuclear Tensions
Iran's Parliament Votes to Suspend Cooperation with Nuclear Watchdog
Trump Announces Upcoming US-Iran Meeting Amid Controversial Airstrikes
Trump Moves to Reshape Middle East Following Israel-Iran Conflict
NATO Leaders Endorse Plan for Increased Defence Spending
U.S. Crude Oil Prices Drop Below $65 Amid Market Volatility
Explosions Rock Doha as Iranian Missiles Target Qatar
“You Have 12 Hours to Flee”: Israeli Threat Campaign Targets Surviving Iranian Officials
Oman Set to Introduce Personal Income Tax, First in Gulf
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Iran Intensifies Crackdown on Alleged Mossad Operatives After Sabotage Claims
Trump Praises Iran’s ‘Very Weak’ Response After U.S. Strikes and Presses Israel to Pursue Peace
WATCH: Israeli forces show the aftermath of a massive airstrike at Iran's Isfahan nuclear site
We have new information and breaking details to share about what is shaping up to be a historic air campaign tonight
Six Massive Bombs Dropped on Fordow; Trump: 'A Historic Moment for the U.S., Israel, and the World'
Fordow: Deeply Buried Iranian Enrichment Site in U.S.–Israel Crosshairs
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
Pakistan to nominate Trump for Nobel Peace Prize.
Israel Confirms Assassination of Quds Force Commander in Tehran
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
G7 Leaders Fail to Reach Consensus on Key Global Issues
Mass exodus in Tehran as millions try to flee following Trump’s evacuation order
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
Vietnam Emerges as Luxury Yacht Destination for Ultra‑Rich
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
Netanyahu Signals Potential Regime Change in Iran
Analysts Warn Iran May Resort to Unconventional Warfare
Iranian Regime Faces Existential Threat Amid Conflict
Energy Infrastructure Becomes War Zone in Middle East
Iran Conducts Ballistic Missile Launches Amid Heightened Tensions with Israel
Iran Signals Openness to Nuclear Negotiations Amid Ongoing Regional Tensions
Shock Within Iran’s Leadership: Khamenei’s Failed Plan to Launch 1,000 Missiles Against Israel
×