Task force set up to recover 1MDB-linked assets abroad

The government has set up a multi-agency task force that aims to recover 1MDB-linked assets from abroad.

MACC deputy chief Azam Baki said today that the task force was established several days ago and its first concern is to establish contact with foreign jurisdictions where such assets are believed to be.

“The task force is trying to trace where these assets are and who we can work with (to reclaim them).

“This involves many jurisdictions, for example the US, UK and Switzerland. Each country has its own jurisdiction.

“The team will work together [...] to contact the foreign party to discuss and obtain information (that we need). We believe there are many 1MDB assets which have been misappropriated,” he said during a press conference at the commission’s headquarters in Putrajaya today.

Azam previously estimated there to be US$5 billion (RM20.75 billion) worth of 1MDB-linked assets parked overseas.

He also said the task force will be led by the National Anti-Financial Crime Centre (NAFCC) and comprise the National Governance, Integrity and Anti-Corruption Centre (GIACC), police, MACC and Attorney General’s Chambers.

Last week, the Dewan Rakyat passed the NAFCC bill to establish the agency.

However, the law raised concerns over its accountability as it allows the prime minister alone to appoint the NAFCC director general.

Three refused compound notices

On a separate matter, Azam said that some 40 percent of the 80 individuals and entities that MACC seeks to recover 1MDB-linked money from have decided to challenge their compound notices in court.

Without naming names, he said only 10 percent of compound recipients had agreed to return money asked of them while a further 45 percent have issued letters of appeal to the MACC.

Three individuals, however, have refused to accept the compound notices issued to them.

The commission aims to recover RM420 million from the exercise, including RM25.7 million from former CIMB group chairperson Nazir Razak. He is the brother of former prime minister Najib Abdul Razak.

The other individuals on MACC’s list are Umno Pontian MP Ahmad Maslan, Kota Baru Umno chief and former aide to Najib Mohamad Fatmi Che Salleh and former Felda chairperson Shahrir Samad.

Among the entities listed are Solar Shine Sdn Bhd, Puteri Umno, Kedah Parti Progresif Penduduk Malaysia, MIC, Federal Territory Koperasi Belia 1Malaysia, MASCOM Communications, Badan Rekreasi dan Komuniti Pengerang as well as several Umno and MCA divisions.

Parties have till Oct 21 (Mon) to settle payments or risk legal action from the MACC.

*please include full scroll-able list here as seen in this article - https://www.malaysiakini.com/news/494718 

- Mkini