(Oct 7): Malaysia is asking the brother of ex-premier Najib Razak and former cabinet ministers to return funds believed to have come from 1MDB or risk being prosecuted.
The Malaysian Anti-Corruption Commission is seeking about 420 million ringgit ($138 million) from 80 individuals and entities, including Nazir Razak, former chairman at CIMB Group Holdings and brother to Najib, Chief Latheefa Koya said in Putrajaya on Monday.
The nation’s investigators are taking a pragmatic approach to recouping funds lost through the troubled state fund, saying they won’t pursue charges against those who willingly return the money. Prime Minister Mahathir Mohamad has made it his priority to track down the more than US$4.5 billion ($6.2 billion) believed to have been siphoned from 1MDB, including by charging units of Goldman Sachs Group Inc. and challenging a settlement with Abu Dhabi’s sovereign wealth fund.
The anti-graft agency is also seeking money back from former Deputy Finance Minister Ahmad Maslan and former Trade Minister Shahrir Samad, who was chairman of Federal Land Development Authority until last year. Those named must return up to 2.5 times the amount they allegedly received from 1MDB within two weeks of receiving the notice, Latheefa said, adding that she believed Nazir accepted 25.7 million ringgit.
The biggest recipient in this batch was Solar Shine Sdn., an event management company that helped promote the 1Malaysia concept. The local firm, which was mentioned during Najib’s 1MDB trial, received 134 million ringgit, Latheefa said.
