PUTRAJAYA: Eight more high value paintings worth over RM120mil linked to the 1Malaysia Development Berhad (1MDB) are expected to be successfully recovered by the end of this year, says Tan Sri Azam Baki.
The Malaysian Anti-Corruption Commission (MACC) chief commissioner said the move is possible due to cooperation between Malaysia and various countries, especially the United States.
ALSO READ: Four 1MDB-linked paintings in transit home, MACC says
"We made a breakthrough in recovering the assets through Mutual Legal Assistance with the US Department of Justice (US DOJ).
"If all goes well, we will get the paintings by end of this year," he told reporters on Wednesday (May 6).
The paintings are as follows:
i. Henri Matisse valued at US$52,500;
ii. Alexander Calder valued at US$125,000;
iii. Pablo Picasso valued at US$1.2mil;
iv. William H. Bailey valued at US$66,250;
v. Raoul Dufy valued at US$40,000;
vi. Salvador Dalí (value still under verification); and
vii. Gustave Loiseau (value still under verification).
"Overall, the value of the paintings still under recovery is estimated at around US$1.7mil, equivalent to approximately RM6.9mil.
"We are also actively working to recover proceeds from the sale of a painting by Claude Monet titled Vétheuil au Soleil, which was sold in Switzerland for approximately 25.2mil euros, or around RM114mil.
ALSO READ: 1MDB: MACC to bring back recovered paintings worth over RM120mil
"These funds are currently under seizure proceedings by the US authorities, and recovery efforts are ongoing through legal channels and cooperation with authorities in the US and Switzerland," he said.
He added that the successful recovery of these artworks forms part of Malaysia’s broader achievements in recovering 1MDB assets.
Previously, it was reported that four pieces of art worth nearly RM800,000 have been returned to Malaysia following an asset recovery exercise by the MACC.
The MACC had said that the artworks had been successfully repatriated as part of 1MDB asset recovery works and were currently "securely housed" at its headquarters in Putrajaya.
"These artworks are part of the assets recovered in connection with the misappropriation of funds from 1MDB, achieved through the government’s ongoing and coordinated efforts led by MACC, involving close collaboration between domestic enforcement agencies and international strategic partners," it said.
It estimated the artworks' combined value at RM786,556.25.
The four artworks repatriated are as follows: Joan Miró's Composition (1953) Maurice Utrillo's Maison de rendez-vous de chasse de Henri IV, Rue St. Vincent, Montmartre (1934), Balthus's Étude pour femme couchée (1948) and Pablo Picasso's L’Ecuyère et les clowns (1961).
