KUALA LUMPUR (May 14): The government is expected to recoup an estimated US$107.3 million (RMRM465.3 million) of the 1MDB funds allegedly siphoned by Riza Shahriz Abdul Aziz, stepson of former prime minister Datuk Seri Najib Razak, the Malaysian Anti-Corruption Commission (MACC) said today.
The US$107.3 million accounts for 43.26% of the total sum of US$248 million (RM1.25 billion based on the exchnage rate on the day he was charged in July last year) allegedly siphoned by Riza from 1Malaysia Development Bhd.
In a statement, the MACC said Riza, who was granted a discharge not amounting to an acquittal earlier today, will be required to pay a compound, following the discharge. However, the anti-graft agency did not disclose the amount.
“Based on the agreement, the accused is required to pay a compound to the government under Section 92 of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 which is punitive as an alternative to the charges that have been brought against him,” the MACC said.
“The MACC has been informed that it is a conditional release where the prosecution reserves the rights to reinstate the charges and prosecute the accused if there is no satisfactory completion of the agreement,” it added.
The commission also said that the prosecution in the trial had applied for the discharge with the nod of then-attorney general.
“The agreement between the prosecution and the accused through representation in court was a decision considered and agreed by the former Attorney General, Tan Sri Tommy Thomas,” it said.
Riza was charged with five counts of money laundering amounting to US$248 million allegedly misappropriated from 1MDB.
Riza is widely known as the co-founder of Hollywood production house Red Granite Pictures, which allegedly received the monies siphoned from 1MDB.
Red Granite has already paid off US$60 million to the US government, following a settlement agreement in 2018, in which Red Granite did not admit to any wrongdoing.