The Malaysian Insight

THE Malaysian Anti-Corruption Commission (MACC) is investigating RM18.9 billion of 1Malaysia Development Berhad (1MDB) funds that have been given out to unknown recipients, said chief commissioner Latheefa Koya.

She today said the amount is in the form of assets, vehicles, shares and cash.

“This operation spans at least five countries.  We are in the process of tracking it down.

“We have identified this amount after deducting the previously established amount.

“But this figure is only an estimation as we are uncertain of the current value of shares and real estate involved.”

She said the operation to discover the amount is being done with National Anti-Financial Crime Centre (NAFCC).

“We are working with the NAFCC, which was formalised recently, to locate, investigate and research where these items are because they are not one-off transactions, they are multiple transactions.”

Latheefa said MACC is working with the countries involved and declined to divulge more details.

Last month, MACC issued compound notices to 80 individuals and entities to recover RM420 million in 1MDB funds.

Solar Shine Sdn Bhd is said to be the entity that received the highest amount at RM134 million, while former prime minister Najib Razak’s brother and former CIMB Bank chairman Nazir Razak, allegedly received RM25.7 million, the highest amount among the individuals named.

The 80 parties have been given two weeks to return the money, failing which MACC said it would drag them to court.

In June, MACC filed forfeiture suits against 41 individuals and entities to recover RM270 million in 1MDB-linked funds they allegedly received from Najib’s personal AmBank account.

Of the total amount, it is seeking RM212 million from Umno divisions.

Najib, 66, is on trial for four counts of power abuse to enrich himself with RM2.3 billion from 1MDB and 21 counts of laundering the same amount. – November 5, 2019.