Kuala Lumpur: Malaysia has repatriated four high-value artworks, including a 1961 Pablo Picasso print, as part of efforts to recover assets linked to the 1MDB scandal, the Malaysian Anti-Corruption Commission (MACC) said on Tuesday.
The MACC said the artworks, valued at about US$198,000, comprise Picasso’s L’Ecuyère et les clowns (1961), Joan Miró’s Composition (1953), Maurice Utrillo’s Maison de Rendez-vous de chasse de Henri IV, Rue St. Vincent, Montmartre (1934) and Balthus’ Étude pour femme couchée (1948).
It said the pieces were recovered in connection with funds allegedly siphoned from 1Malaysia Development Berhad (1MDB) between 2009 and 2014.
Over the past decade, Malaysia has sought to recover more than US$4.5 billion (S$5.7 billion) linked to the case.
US investigators have said the funds were allegedly misappropriated by high-level 1MDB officials and their associates and used to acquire assets including hotels, jewellery and artwork.
The MACC said the artworks are being kept in a specially designated location under strict security and are undergoing environmental stabilisation prior to uncrating, authentication and valuation by the National Visual Arts Development Board.
It said in December it would repatriate a dozen artworks held in the United States following discussions with the Federal Bureau of Investigation and the US Justice Department.
The Picasso and Miró pieces were among the 12 works recovered from a former 1MDB lawyer and stored at Christie’s and Sotheby’s auction houses, the MACC said.
Authorities have said the artworks may be displayed at Malaysia’s national art gallery before potentially being auctioned.
“Each recovered asset, including these artworks, demonstrates that there is no safe haven for illicit proceeds to be concealed, even when involving complex cross-border financial networks,” the MACC said.
It said Malaysia has so far recovered about RM31.2 billion (S$10.1 billion), representing nearly 70 per cent of all identified assets linked to 1MDB.
1MDB, co-founded by former prime minister Najib Razak, has been the subject of corruption and money laundering investigations in at least six countries.
Najib, who has consistently denied wrongdoing, was jailed in 2022 after being convicted of graft linked to the scandal.
