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THE Malaysian Anti-Corruption Commission (MACC) is currently in the process of bringing back high-value assets related to the 1Malaysia Development Berhad (1MDB) asset recovery efforts for further action.
According to sources, the MACC is currently assessing the logistical requirements and costs involved in bringing back the assets.
“The assets under Sotheby’s custody are currently in the process of being brought back to Malaysia via shipping, while the assets under Christie’s custody can only be handed over through a court order in the United States, particularly through collaboration with the US DOJ.
“The cost of bringing back these assets is high as they require special storage space, periodic inspections, conservation treatment and ongoing maintenance, as well as close coordination with foreign enforcement agencies,” he said.
Sources said the return of the assets was agreed as part of the 1MDB-related asset recovery efforts and the result of bilateral discussions between the MACC, the Federal Bureau of Investigation (FBI) and the US Department of Justice (DOJ) which took place in Washington and New York on 9 and 11 December.
An estimated 12 paintings belonging to Jasmine Loo are held by Christie’s and Sotheby’s Auction House in the US, including Pablo Picasso (1961), L’Ecuyere et les clowns; Joan Miró (1953), Composition; William H. Bailey (b. 1930), Still Life; Alexander Calder (1898–1976), Studies for Sculpture; and Henri Matisse (1869–1954), Femme Assise, all of which are worth more than USD30 million.
Meanwhile, MACC Special Operations Division Senior Director, Datuk Mohamad Zamri Zainul Abidin when contacted, said that MACC is continuing to track and investigate various categories of assets, including real estate, financial assets and high-value assets involving different jurisdictions.
He also informed that the latest investigation also involves an individual (Casey Tang) linked to 1MDB offences who owns a luxury residence abroad as well as irregularities involving an overseas law firm. – December 22, 2025