The government is set to establish a new task force aimed at recovering an estimated US$5 billion (RM20.75 billion) worth of 1MDB-linked assets from abroad.
This was announced by MACC deputy chief Azam Baki today, who said the team will be led by the National Financial Crime Centre (NFCC), as well as the National Governance, Integrity and Anti-Corruption Centre (GIACC).
“We need to determine the assets that we want to recover. These are overseas assets, not local assets.
“[...] I think the amount is nearly US$5 billion (RM20.75 billion).
“These assets are in many countries and there are all related to 1MDB,” Azam said when asked by the media, adding that GIACC will be announcing the members of the task force soon.
Among the agencies involved are the MACC, the police and the Attorney General’s Chambers.
“We just in the midst of forming the team with NFCC, which is under GIACC.
“We have a good team there, and we need to follow the money trails and talk to many agencies, as well as look into legal issues.
“[...] Certain countries have their legal processes which we will need to follow. This is something which we have to discuss with many countries as we can’t use our laws to recover these assets,” Azam elaborated.
[More to follow] - Mkini
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