Kuala lumpur: The Malaysian Anti-Corruption Commission (MACC) is intensifying its efforts to recover eight more artworks linked to the misappropriation of funds from 1Malaysia Development Berhad (1MDB), with a total estimated value exceeding RM120 million by the end of the year. Chief commissioner Tan Sri Azam Baki announced that the MACC has identified 12 artworks for repatriation, with four already successfully recovered.
According to BERNAMA News Agency, the artworks in the process of recovery include significant pieces by renowned artists such as Henri Matisse (USD52,500), Alexander Calder (USD125,000), Pablo Picasso (USD1.265 million), William H. Bailey (USD66,250), and Raoul Dufy (USD40,000). Additionally, the value of artworks by Salvador Dal and Gustave Loiseau is still being verified. The overall value of artworks still under recovery is estimated at approximately USD1.7 million (RM6.9 million).
Azam highlighted ongoing efforts to recover proceeds from the sale of Claude Monet's V©theuil au Soleil, sold in Switzerland for about EUR25.2 million, or roughly RM114 million. He stated that the funds are currently under seizure proceedings by authorities in the United States, with recovery efforts continuing through legal channels in cooperation with authorities in both the US and Switzerland.
Azam emphasized that the recovery of these artworks is part of Malaysia's broader initiative to reclaim 1MDB-linked assets. He noted that the MACC had successfully secured the return of four international artworks purchased using 1MDB funds last month. These artworks were traced through transactions at leading auction houses like Christie's and Sotheby's in New York and were recovered through legal processes and strategic international cooperation involving agencies such as the Federal Bureau of Investigation (FBI) and the United States Department of Justice (USDOJ).
The recovered artworks were not physically seized but returned through lawful processes, including the execution of a Power of Attorney by the USDOJ to the MACC via the Attorney General's Chambers, showcasing that asset recovery is conducted through careful legal and diplomatic channels.
Azam revealed that the four recovered artworks, valued at an estimated USD198,125 (RM786,556), are set to be handed over to the National Art Gallery Malaysia soon. These include Composition (1953) by Joan Mir³ (USD93,750), Maison de rendez-vous, rue Saint-Rustique, Montmartre (1934) by Maurice Utrillo (USD50,000), ‚¬Å¡¬€¦¡¬€š¬¦¡¬€š¬…¡¬¦¡¬€š¬…¡¬‚¬¦¡¬¦¡¬€š¬…¡¬‚¬¦¡¬‚¬Å¡¬¦¡¬¦¡¬€š¬…¡¬‚¬¦¡¬‚¬Å¡¬¦¡¬‚¬Å¡¬€¦¡¬¦¡¬¦¡¬°tude pour femme couch©e (1948) by Balthus (USD28,125), and L'Ecuy¨re et les clowns (1961) by Pablo Picasso (USD26,250). The artworks were transported under strict security from New York on April 8, arriving at Kuala Lumpur International Airport on April 10, before being taken to MACC headquarters with the involvement of multiple agencies, including the Royal Malaysian Customs Department, the National Art Gallery, and logistics personnel.
Regarding the potential sale of the artworks, Azam stated that the decision would be made by the Ministry of Finance (MOF).