Prime Minister Muhyiddin Yassin in a statement today confirmed the return of US$300 million in funds through seizures of rogue sovereign fund 1MDB from the US Department of Justice.
The return of the long-awaited funds might be celebrated also as a slight improvement on the trust deficit in the Perikatan Nasional government following their controversial rise to power in a political coup last month. Muhyiddin’s statement also confirmed that this government still regards fugitive financier Jho Low as a wanted criminal.
“These are funds returned from the seizures of assets related to 1MDB under the Kleptocracy Assets Recovery Initiative by the US Department of Justice,” Muhyiddin’s statement read.
This confirmed that the Perikatan Nasional government was in agreement with the term ‘kleptocracy’ in reference to the Barisan Nasional administration under the stewardship of Najib Razak.
Muhyiddin explained the seizures covered assets related to 1MDB-linked funds spent by Low, which were returned by individuals and through the auction of assets seized from the Penang-born fugitive.
Muhyiddin said the effort to recover 1MDB asset across the world would continue.