Looting of the 1MDB investment fund by officials in Malaysia after Goldman helped it raise money spawned a multibillion-dollar scandal and probes across continents. Funds that 1MDB held, as well as proceeds of bonds issued for and on behalf of it, were spent on a variety of extravagant items including luxury homes, a superyacht, and fine art by Monet and Van Gogh, according to the DOJ.
The US Justice Department said it returned an additional US$156 million ($210.9 million) in misappropriated 1MDB funds to Malaysia, a month after the Southeast Asian nation sought extra compensation from US authorities.
That brings the total amount the DOJ has repatriated to Malaysia to about US$1.4 billion, according to a statement on the department’s website late Thursday. Malaysia in May said it was entitled to additional funds from US authorities after the latter formally ended their criminal case with Goldman Sachs Group Inc. for its role in the 1MDB scandal.
