Riza Aziz, International Money Laundering, California 2023

GRAFT ON A GRAND SCALE: More than $300 million in assets linked to the 1MDB scandal are at the center of the latest U.S. investigation into the embezzlement of millions from a Malaysian sovereign wealth fund.

In a bold move, the U.S. government has filed civil forfeiture complaints against Riza Aziz, a Malaysian businessman, seeking the forfeiture and recovery of more than $300 million in assets allegedly associated with an international conspiracy to launder funds misappropriated from 1Malaysia Development Berhad (1MDB), a Malaysian sovereign wealth fund.

According to the complaints, from 2009 through 2015, more than $4.5 billion in funds belonging to 1MDB were allegedly misappropriated by high-level officials of 1MDB and their associates. The funds were intended to be used for improving the well-being of the Malaysian people but were instead laundered through a series of complex transactions and shell companies with bank accounts located in the United States and abroad.

The complaints identify additional assets traceable to the 1MDB money laundering and bribery scheme, including four dozen promotional movie posters acquired with more than $4 million in funds traceable to assets embezzled from 1MDB and an escrow account maintained in the United Kingdom holding more than $300 million.

The Justice Department's Kleptocracy Asset Recovery Initiative has been instrumental in recovering assets linked to the 1MDB scandal. To date, the United States has recovered or assisted Malaysia in recovering nearly $1.1 billion in assets associated with the 1MDB international money laundering and bribery scheme.

The cases against Riza Aziz are ongoing, with no sentencing date set yet. The Justice Department's efforts to recover assets linked to the 1MDB scandal are a significant step in holding those responsible accountable for their actions.

Defendant: Riza Aziz

Criminal Charges: International money laundering

City and State: Los Angeles, California

Exact Date: January 12, 2023

Sentence or Outcome: Ongoing

Dollar Amounts: Over $300 million

Source: https://www.justice.gov/archives/opa/pr/us-seeks-recover-more-300-million-additional-assets-traceable-funds-allegedly-misappropriated