Four valuable paintings linked to the 1Malaysia Development Berhad (1MDB) scandal, including a Pablo Picasso artwork, are set to be returned to Malaysia, with their arrival expected on April 6.
The artworks, once owned by former 1MDB lead counsel Jasmine Loo Ai Swan, a close associate of fugitive businessman Low Taek Jho or Jho Low, are among assets tied to the wider global investigations into the multi-billion-dollar financial scandal.
Authorities estimate the combined value of the four paintings at nearly RM660,000 (about US$140,000), with the Picasso piece alone valued between RM23,000 and RM35,000 (US$5,000 to US$7,000).
According to Malaysian Anti-Corruption Commission (MACC) chief Tan Sri Azam Baki, the paintings were previously held at Sotheby’s Auction House, while another seven artworks remain under the custody of Christie’s.
He added that US Department of Justice (DOJ) officials in Washington have also confirmed the connection of the seized artworks to 1MDB.
The recovery process was carried out through cooperation between MACC, the Federal Bureau of Investigation (FBI) and the DOJ under international asset recovery efforts.
Other assets previously linked to Jasmine Loo include luxury watches and high-end properties in London, the United States and Switzerland, which were seized in 2023.
MACC is also expected to pursue further recovery efforts through the Mutual Legal Assistance (MLA) framework to secure additional artworks still held overseas.
Officials said the returned paintings are expected to be displayed publicly before any decision is made on potential auctioning, with proceeds directed back to the Malaysian government.
The 1MDB scandal, established in 2009 under then-prime minister Datuk Seri Najib Razak, has had far-reaching global financial implications and continues to see ongoing asset recovery efforts across multiple jurisdictions.