PUTRAJAYA: Twelve high-value paintings connected to the 1MDB financial scandal will be returned to Malaysia after being held by US authorities, the Malaysian Anti-Corruption Commission (MACC) announced on Friday.
The artworks, estimated to be worth over USD30 million, are currently under the control of the US Department of Justice (USDOJ). MACC said the paintings are linked to Jasmine Loo and were identified through investigations involving leading US auction houses.
According to MACC, the decision followed two official meetings with the Federal Bureau of Investigation (FBI) and USDOJ held in Washington DC and New York earlier this month. The discussions focused on asset recovery procedures, legal coordination, and broader cooperation in addressing the 1MDB case.
Among the artworks slated for return are masterpieces by prominent artists such as Pablo Picasso, Joan Miró, Alexander Calder, and Henri Matisse. These works are regarded as significant not only for their financial value but also for their cultural and historical importance.
The talks also addressed the sentencing of Pras Michel, a former member of the hip-hop group Fugees, who received a 14-year prison sentence after being convicted of receiving funds linked to 1MDB. US authorities stated that part of the USD120 million involved was channelled through shell companies associated with the scandal.
In addition, the USDOJ informed MACC that assets linked to Jho Low remain in Singapore and were not included in prior US settlement agreements. Efforts to trace and recover these assets are ongoing.
MACC further disclosed that assets previously identified in jurisdictions such as Hong Kong, Singapore and France have been liquidated, with proceeds transferred to the United States in accordance with legal requirements.
The FBI and USDOJ reiterated their full commitment to international cooperation with MACC, the Attorney General’s Chambers, and the National Financial Crime Centre. This includes enhanced coordination in tracing, seizing and recovering remaining assets linked to 1MDB worldwide.
The Malaysian delegation was led by Datuk Mohamad Zamri Zainul Abidin, alongside senior representatives from NFCC and AGC. The meetings were aimed at reinforcing long-term collaboration and ensuring that asset recovery efforts related to 1MDB continue in a structured and legally sound manner.