MACC-FBI-DOJ collaboration recovers US20 mln linked to 1MDB
MACC says, businessman and partner of DuSable, Frank White Jr. voluntarily agreed to surrender funds to the DOJ after learning they originated from misappropriated 1MDB money. - REUTERS
PUTRAJAYA: The Malaysian Anti-Corruption Commission (MACC) announced that its close collaboration with the Federal Bureau of Investigation (FBI) and the United States Department of Justice (DOJ) led to the successful recovery of USD20 million (approximately RM90 million) linked to 1MDB funds tied to a solar energy project in Malaysia.
In a statement today, MACC said the recovered funds involved Frank White Jr., a businessman and partner in the investment firm DuSable Capital Management LLC (DuSable).
"White Jr. voluntarily agreed to surrender the funds to the DOJ upon discovering that the money received by DuSable originated from misappropriated 1MDB funds, despite being unaware of the source at the time of receipt," the statement read.
MACC further disclosed that, to date, a total of RM29.73 billion has been successfully repatriated to Malaysia's government coffers. This does not include the recently recovered USD20 million.
The statement emphasised that the MACC and the Malaysian government remain committed to the ongoing recovery of assets linked to 1MDB.
Additionally, the MACC is actively pursuing the recovery of misappropriated assets from Kuwait, Hong Kong, the United Kingdom, and several European countries.
These efforts will be further intensified through strategic cooperation with international counterparts to ensure the recovery of misappropriated assets for the benefit of the people and the nation, the statement concluded.
-- BERNAMA
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