Four prized paintings tied to the misappropriation of 1Malaysia Development Berhad (1MDB) funds, including a Picasso piece estimated to be worth at least US$5,000, will be returned to Malaysia – with their arrival expected on Apr 6.
The artworks were once owned by former 1MDB lead counsel Jasmine Loo Ai Swan, a close associate of fugitive businessman Low Taek Jho, better known as Jho Low.
Other assets previously seized from Loo include luxury watches and high-end condominiums in London, the United States and Switzerland back in 2023.
“These are (Loo’s) paintings that were held at Sotheby’s Auction House,” Malaysia’s Anti-Corruption Commission (MACC) chief Azam Baki told the Malay Mail news outlet on Wednesday (Apr 1).
The seized paintings’ links to 1MDB were also confirmed by officials from the US Department of Justice (DOJ) in Washington, Azam said“Another seven paintings remain under the custody of the renowned auction house Christie’s,” he added.
The process of retrieving the paintings was the result of official cooperation between MACC and US officials including the Federal Bureau of Investigation (FBI) and the DOJ.
CNA
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