Malaysia receives $156M installment in assets case from US

Malaysia receives $156M installment in assets case from US

Malaysian premier received funds from US in reimbursement over scandal-ridden 1MDB fund

By Yasin Gungor

ISTANBUL (AA) - The United States has returned $156 million to Malaysia from the scandal-rdden 1MDB fund, the US envoy to the country said Thursday.

A fourth tranche of assets, bringing the total recovered amount to $1.4 billion, was transferred back to Malaysia on Tuesday from the sovereign wealth fund, said Ambassador Edgard D. Kagan in a statement.

"This extraordinary sum of money is going back to the people of Malaysia where it belongs and where it can finally be used for its original intended purpose: to better the lives of everyday Malaysians," he added.

"The United States government remains committed to recovering and returning additional funds stolen from 1MDB for the benefit of the Malaysian people," the statement added.

The statement indicated that Malaysian Prime Minister Anwar Ibrahim had received the funds during a meeting with Kagan on Tuesday.

The funds are part of asset recoveries from 1Malaysia Development Berhad (1MDB), a state fund founded in 2009 by then-Malaysian Prime Minister Najib Razak. Authorities in Washington and Kuala Lumpur said about $4.5 billion was allegedly siphoned from the fund.

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