March 17, 2020 / 8:37 AM / 14 days ago

Malaysia recovers $323 million of 1MDB fraud money, PM's office says

FILE PHOTO: Boxes of 1Malaysia Development Berhad (1MDB) documents arrive at Kuala Lumpur High Court in Kuala Lumpur, Malaysia, August 28, 2019. REUTERS/Lai Seng Sin

KUALA LUMPUR (Reuters) - Malaysia has recovered 1.4 billion ringgit ($323 million) of funds allegedly stolen from state fund 1MDB and identified another 6.9 billion ringgit for recovery, the prime minister’s office said on Tuesday.

The U.S. Department of Justice (DoJ), which says more than $4.5 billion was looted from 1MDB in a multi-country fraud, returned nearly $200 million to Malaysia in May.

A second transfer of about $240 million was delayed last month.

Reporting by A. Ananthalakshmi; editing by John Stonestreet

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