KUALA LUMPUR : The US Department of Justice (DOJ) has repatriated US$452 million in misappropriated funds from 1Malaysia Development Bhd (1MDB), it said in a statement on Thursday (Aug 5), bringing the total amount recovered from the corruption scandal to US$1.2 billion.
The funds, which were repatriated to Malaysia, had been laundered through major financial institutions worldwide, including in the United States, Switzerland, Singapore, and Luxembourg, the statement said.
"The funds include both funds finally forfeited and funds the Department assisted in recovering and returning. The Department continues to litigate actions against additional assets allegedly linked to this scheme," it said.
1MDB raised billions of dollars in bonds, ostensibly for investment projects and joint ventures, between 2009 and 2013.
More than US$4.5 billion in funds belonging to 1MDB were allegedly misappropriated by high-level officials at the firm and their associates through a criminal scheme involving international money laundering and embezzlement.
The scandal implicated high-level officials, banks and financial institutions around the world.
In addition to the purchasing of luxury assets, including real estate and a superyacht, the DOJ said some of the embezzlement proceeds were also used to allegedly pay bribes.