MACC: Malaysia recovers RM30b in 1MDB assets — highest global recovery rate at 70pc

 

MACC: Malaysia recovers RM30b in 1MDB assets — highest global recovery rate at 70pc



MACC’s 1MDB Asset Recovery Task Force head Datuk Mohamad Zamri Zainul Abidin said Malaysia’s recovery rate of its 1MDB assets is far ahead of other countries’ asset recovery rates in their financial scandals. — Picture by Raymond Manuel

Wednesday, 27 Aug 2025 7:00 AM MYT


KUALA LUMPUR, Aug 27 — Malaysia’s successful recovery of around 70 per cent so far of 1Malaysia Development Berhad’s (1MDB) RM42 billion assets is the highest recovery rate when compared against other corruption scandals globally, a senior officer from the Malaysian Anti-Corruption Commission (MACC) has said.

MACC’s special operations division’s senior director Datuk Mohamad Zamri Zainul Abidin, who is also head of MACC’s 1MDB Asset Recovery Task Force, credited the success to a joint effort by Malaysian agencies.


“Currently, Malaysia has successfully recovered approximately 70 per cent of 1MDB assets, amounting to about RM30 billion out of the total RM42 billion.

“This recovery rate is significantly higher than the international average of around 30 per cent, reflecting the effectiveness of the multi-agency effort led by MACC,” he told Malay Mail when met after the recent 2025 Association of Certified Fraud Examiners (ACFE) Fraud Conference Asia-Pacific.


He confirmed that this high asset recovery rate in the 1MDB case has gained global recognition, also crediting this to Malaysia’s cooperation with law enforcement agencies in other countries.

“Yes. The 1MDB asset recovery led by MACC is recognised internationally as among the most successful in the world, ranking first ahead of other major cases such as Petrobras in Brazil.

“This achievement was made possible through strong international collaboration and the establishment of joint task forces between Malaysian enforcement agencies and their counterparts in various jurisdictions,” he told Malay Mail.


He said the MACC — together with an international 1MDB asset recovery task force involving countries such as the US, Singapore and Switzerland — had traced all 1MDB funds laundered through methods such as artworks and properties.

In its latest public tally in March, the MACC said Malaysia had successfully recovered RM29.7 billion in assets out of the RM42 billion believed to have been misappropriated from 1MDB.

In the latest announcement last Friday (August 22) on settlements for the 1MDB case, the Finance Ministry said US bank JPMorgan Chase has agreed to pay RM1.4 billion to Malaysia’s Assets Recovery Trust Account to resolve all existing and potential claims or court cases on 1MDB.



Malaysia is still seeking to recover assets linked to Low Taek Jho, who is seen here in Penang in this 2018 file photo. — Picture by KE Ooi



1MDB assets in Malaysia mostly recovered; ongoing efforts to recover assets abroad

When asked by Malay Mail, Mohd Zamri confirmed that most of the local 1MDB-linked assets in Malaysia had already been recovered via cases under the criminal law such as forfeiture actions.

“Through the criminal route, about 90 to 95 per cent of domestic assets have been recovered,” he said.

Other asset recovery methods for the 1MDB case include settlements, compounds and civil lawsuits, he said.

When asked by Malay Mail about the recovery of the remaining 1MDB assets from overseas, Mohd Zamri said efforts are still being made to recover such assets involving “multiple jurisdictions including Singapore, the United States, Switzerland and the United Kingdom”.

“Efforts also include recovery from Tarek Obaid, Patrick Mahony, and assets linked to them,” he told Malay Mail, referring to PetroSaudi’s officials.

As for individuals connected to the 1MDB case, he confirmed that the recovery of assets linked to Malaysian fugitive Low Taek Jho, or Jho Low, is still ongoing.

“The lawyers are still working with relevant authorities worldwide to address his case in every jurisdiction,” he said when indicating that Low’s lawyers are still in contact with the authorities.

During the same conference by ACFE, Mohd Zamri presented a talk titled “Asset Recovery in Money Laundering Cases: A Case Study of the 1MDB Scandal in Malaysia”.

In that talk, he referred to the global footprint of the 1MDB scandal, noting that Low had corrupted and implicated numerous individuals across multiple countries and jurisdictions.

The 1MDB scandal had involved personalities and entities located in or linked to countries throughout the world, including US bank Goldman Sachs’ former employees Tim Leissner and Roger Ng, Saudi Arabia, Abu Dhabi and Singapore.

1MDB had previously launched multiple civil lawsuits to recover its assets, while the 1MDB criminal trial involving 25 charges against former prime minister Datuk Seri Najib Razak is still ongoing.

Najib’s trial over 1MDB’s misappropriated RM2.27 billion will resume this October, with his lawyers and the prosecution to present their final arguments before the High Court decides whether he is guilty or not.