1MDB-related funds totalling RM19.14 bln recovered as of Jan 31, 2022 -- Finance Ministry

KUALA LUMPUR: 1Malaysia Development Bhd (1MDB)-related funds which have been successfully recovered as of Jan 31, 2022, amount to RM19.14 billion, the Finance Ministry said.

In its written reply in the Dewan Rakyat today, the ministry said the monies had been deposited into the Assets Recovery Trust Fund (AA MKA).

It noted that most of the funds were acquired from five main sources, including US$1.23 billion (RM5.17 billion) from the United States (US) Department of Justice and US$2.5 billion (RM10.5 billion) from US investment bank Goldman Sachs as part of the settlement finalised in July 2020 and credited in September 2020.

"A total of US$80 million or RM336 million was received from Deloitte as a result of a global settlement on May 24, 2021 (credited in June 2021), RM2.315 billion from AmBank as a result of a global settlement on May 5, 2021 (credited in July and December 2021), and US$80 million or RM336 million from KPMG as result of a global settlement on Dec 16, 2021 (credited in January 2022)," the ministry said.

It also said 1MDB had appointed Parker Randall as its auditor to carry out audits on its financial statements, including assets and liabilities.

However, it said, the latest audited financial statements had not been finalised as the previous auditors, namely KPMG (2010, 2011 and 2012) and Deloitte (2013 and 2014) had withdrawn their reports and opinions on the company's financial statements.

"Therefore, the actual 1MDB losses at the present time could not be verified," it added.

-- BERNAMA