KUALA LUMPUR, May 4 (NNN-Bernama) — Prime Minister Tun Dr Mahathir Mohamad said Malaysia hopes to recover a total of US$7 billion (US$1=RM4.14) that was allegedly misappropriated from 1Malaysia Development Bhd (1MDB).
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\u201cWe are hoping to get back US$7 billion,\u201d Dr Mahathir said when asked how much Malaysia hoped to recover.
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The Prime Minister also confirmed that the United States is preparing to return US$200 million linked to the troubled state investment fund.
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\u201cThey are going to give it back to us. They know this is our money. Singapore is also giving it back to us,\u201d he told a press conference after Pakatan Harapan\u2019s Presidential Council Meeting here today.
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Dr Mahathir had previously said the stolen 1MDB money which amounted to US$4.3 billion would make its way to Malaysia, but not all of it.
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According to a news report by Bloomberg today, the US authorities were in the midst of preparing to return about US$200 million of funds allegedly misappropriated from 1MDB to Malaysia, which was likely to be transferred as soon as next week.
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The report said this included some US$140 million generated from the sale of a stake in New York\u2019s Park Lane Hotel, as well as a settlement paid by the producer of the \u201cWolf of Wall Street\u201d movie worth US$60 million.
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Bloomberg said Singaporean authorities were going to return about S$35 million (S$1=RM3.04), which was surrendered by former Goldman Sachs banker Roger Ng and his family in connection with 1MDB to Malaysia.
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It said a Singapore court order was granted on March 21 for the money to be repatriated to 1MDB.
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Goldman Sachs earned about US$600 million in fees for its work with 1MDB, which included three bond offerings in 2012 and 2013 that raised US$6.5 billion.
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Last year, Switzerland Attorney-General (AG) Michael Lauber confirmed about US$7 billion of 1MDB’s fund was circulated in the global financial system and the Swiss government had frozen some 400 million Swiss francs (1 Swiss franc=RM4.07) believed connected to the state fund in the country.
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He had said direct contact with the AG of Malaysia has been made in order to make a clear statement that Switzerland is still interested in coordinating with Malaysia.
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\u201cThat means setting up priorities, exchanging the latest updates on the investigation, and also to exchange views about different legal systems,\u201d he said.
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NNN-BERNAMA<\/p>\n","protected":false},"excerpt":{"rendered":"
KUALA LUMPUR, May 4 (NNN-Bernama) — Prime Minister Tun Dr Mahathir Mohamad said Malaysia hopes to recover a total of US$7 billion (US$1=RM4.14) that was allegedly misappropriated from 1Malaysia Development Bhd (1MDB). \u201cWe are hoping to get back US$7 billion,\u201d Dr Mahathir said when asked how much Malaysia hoped to recover. The Prime Minister also […]<\/p>\n","protected":false},"author":16,"featured_media":15271,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[288,318],"tags":[],"_links":{"self":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/23256"}],"collection":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/users\/16"}],"replies":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=23256"}],"version-history":[{"count":0,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/23256\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/media\/15271"}],"wp:attachment":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=23256"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=23256"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=23256"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}