U.S. Government Reaches Settlement to Recover More than $60 Million Involving 1MDB
Posted on 09/02/2020
The U.S. Department of Justice (DOJ) reached a settlment regarding the civil forfeiture cases against assets acquired by Riza Aziz utilizing funds allegedly embezzled from 1Malaysia Development Berhad (1MDB). Riza Aziz and others collectively laundered billions of dollars from 1MDB. According to the press release, “These assets are estimated to be worth more than $60 million. With the conclusion of this settlement, together with the prior disposition of other related forfeiture cases, the United States will have recovered or assisted in the recovery of nearly $1.1 billion in assets associated with the 1MDB international money laundering and bribery scheme. This represents the largest recovery to date under the department’s Kleptocracy Asset Recovery Initiative and the largest civil forfeiture ever concluded by the Justice Department.”
A civil forfeiture complaint is merely an allegation that money or property was involved in or represents the proceeds of a crime. These allegations are not proven until a court awards judgment in favor of the United States.