Rare Bugatti supercars linked to 1MDB seized in Germany
The four cars are the Rembrandt edition Veyron, Black Bess, Jean-Pierre Wimille, and Meo Costantini. Each is valued at around US$3 million.
A Bugatti Veyron displayed during the Retromobile classic car show at Porte de Versailles in Paris on Feb 4, 2020. (Photo: AFP/Martin Bureau)
Rare Bugatti supercars believed to be linked to Malaysian sovereign wealth fund 1MDB were seized in Germany earlier this week from a private storage facility in Munich, according to German media reports.
The confiscated luxury cars are classified under the exclusive "Legends" series of Bugatti hypercars, with only 18 produced in the series, said Malaysian news outlet Bernama.
The four cars are the Rembrandt edition Veyron, Black Bess, Jean-Pierre Wimille and Meo Costantini. Each is valued at around US$3 million.
Bernama reported that the Malaysian Anti-Corruption Commission (MACC) has requested information from German authorities concerning the seizure of the vehicles.
MACC Chief Commissioner Azam Baki said on Sunday (Apr 28) that the anti-graft agency had been probing the matter since 2020.
He said that in November 2020, a mutual legal assistance request was submitted to Switzerland to obtain information about frozen assets related to the 1Malaysia Development Berhad case.
"This was followed by meetings with the Office of the Attorney-General of Switzerland regarding 50 luxury cars involved in the 1MDB investigation in 2021.
"Later in March 2022, a meeting with the Office of the Attorney-General was held in Switzerland to discuss the progress of the mutual legal assistance request and obtain further information," said Azam as quoted by Bernama.
Following this, the anti-graft agency asked German authorities for information about 1MDB bond funds used to purchase luxury cars in the country on Oct 26, 2022.
Azam added that in a recent development, MACC also requested that the German authorities provide them with the latest information. He did not elaborate on the nature of this request.
According to German newspaper Bild, the Munich Police Headquarters referred the seizure to the Federal Prosecutor's Office in Bern, Switzerland. The case took place as part of a request for legal assistance from the office, according to the spokesperson.
The authorities did not provide further information as legal proceedings were still ongoing.
ARTWORK, SUPERYACHT
The multibillion-dollar 1MDB financial scandal has led to criminal investigations around the world - including in the United States, Switzerland and Singapore - involving politicians, celebrities and prominent individuals.
It is alleged that billions of dollars were pilfered from the fund by a number of people and used to buy items ranging from artwork to a superyacht.
Former Malaysian prime minister Najib Razak was in 2022 sentenced to 12 years in jail for offences linked to the misuse of public money. In February this year, his sentence was halved to six years.
Najib has been serving time in Kajang Prison after the Federal Court upheld his conviction for criminal breach of trust, power abuse and money laundering over the misappropriation of SRC International funds. SRC International is a former subsidiary of 1MDB. He is slated to be released in August 2028.
But with parole for good behaviour, he could be out in August 2026 after serving two-thirds of the new jail term.
Najib, who served as prime minister from 2009 to 2018 and is the first premier to be jailed, still faces corruption charges in three separate cases.
He will have to wait until Jun 5 to know whether he can proceed with his bid to serve the remainder of his sentence under house arrest.
Two men accused of embezzling US$1.8 billion from 1MDB are currently on trial in Switzerland.
PetroSaudi chief executive Tarek Obaid and Patrick Mahony, a director at the Saudi oil exploration and production company, are accused of squandering their loot on precious stones, private jets, rented yachts and property in London and Geneva.
Prosecutor Alice de Chambrier accused them of "extraordinary criminal activity and tenacity" over 10 years between 2009 and 2019, if alleged acts of concealment are included.
She sought a 10-year sentence for Obaid and a nine-year term for his right-hand man.
Obaid is a Swiss-Saudi dual national, while Mahony is Swiss-British.
The case, being heard by three judges, opened on Apr 2 and is scheduled to last until the end of the month though the verdict could take months.
