KUALA LUMPUR – Malaysia is set to recover up to RM5 billion from individuals linked to the 1Malaysia Development Berhad (1MDB) scandal, including former PetroSaudi CEO Tarek Obaid and accounts held by the family of fugitive businessman Low Taek Jho, popularly known as Jho Low.
Malaysian Anti-Corruption Commission (MACC) Chief Commissioner Tan Sri Azam Baki said the anti-graft agency is leading negotiations with several countries, including the United States and the United Kingdom, to secure the funds.
According to him, RM600 million is expected from Obaid alone, while accounts linked to Jho Low’s family are set to be returned to the government in the near term.
“The total 1MDB funds that were misappropriated and traced is around RM42 billion. We have already recovered about RM30 billion in cash and assets, and we expect to recover around RM5 billion more,” Azam said during a podcast interview with Berita Harian.
So far, Malaysia has successfully reclaimed RM31.19 billion of the RM42 billion misappropriated from the state investment fund. Azam acknowledged that while the agency cannot guarantee an exact timeline, urgent steps are being taken to recover the remaining funds.
“For some of the individuals involved, we will initially recover around RM2.8 million,” he added, emphasising that the government is determined to secure the funds as quickly as possible.
Obaid, a Swiss-Saudi businessman, was sentenced in August 2024 to seven years in prison in Switzerland over 1MDB-related misappropriation. Another executive, Patrick Mahony, received a six-year sentence. Both hold dual citizenships.
In March last year, the Kuala Lumpur High Court approved a government request to freeze 41 pieces of jewellery linked to Obaid and two other companies, valued at £9 million. The order was issued under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLATFPUAA).
Azam said SPRM is actively working with international partners to ensure the remaining funds are returned to Malaysia, stressing that every effort is being made to expedite the process.– January 9, 2026
