Singapore is returning $37 million to Malaysia seized during its probe in the 1MDB scandal.
In the latest court proceedings, 35 million Singapore dollars were approved for return to Malaysia, including another 15.3 million Singapore dollars in September 2018.
«Part of the (money) have already been transferred to Malaysia, while the rest are still being processed by the banks,» said the city-state’s police force.
Billion Dollar Hunt
Malaysian authorities are seeking to recover an estimated $4.5 billion in assets from 1MDB-related wrongdoings and Singapore’s $37 million return is the latest milestone.
Earlier this week, «Wolf of Wall Street» producer reported returned various gifts including a vintage «King Kong» poster and a Jean-Basquiat drawing. Malaysian Finance Minister Lim Guan Eng said in a recent statement that a total of $225 million had been returned to the government so far.
