WASHINGTON (Pakistan Point News / Sputnik - 02nd July, 2020) The US government has filed civil suits in California to reclaim $96 million it alleges were illegally taken from Malaysia Development Berhad (1MDB) sovereign wealth fund, the Justice Department said in a news release.
"The Justice Department announced today the filing of civil forfeiture complaints seeking the forfeiture and recovery of approximately $96 million in assets allegedly associated with an international conspiracy to launder funds misappropriated from 1Malaysia Development Berhad (1MDB)," the release said on Wednesday.
The complaints are the latest move in a process that began in July 2016 in which the US government has sought the forfeiture of more than $1.8 billion in assets traceable to funds embezzled from 1MDB, the Justice Department explained.
"To date, as a result of these actions, the United States has recovered or assisted Malaysia in recovering nearly $1.1 billion in assets associated with the 1MDB international money laundering and bribery scheme," the release said.
According to the complaints, from 2009 through 2015, more than $4.5 billion in funds belonging to 1MDB were allegedly misappropriated by high-level officials of 1MDB. The assets included luxury real estate in Paris, artwork by Claude Monet and Andy Warhol, and accounts at financial institutions in Luxembourg and Switzerland, it said.
