The U.S. Justice Department is seeking to recover $540 million in assets — including art works, jewelry and film rights — that it says were purchased with funds misappropriated from Malaysia’s 1MDB wealth fund.
This brings the total sought by the Justice Department to $1.8 billion.
The items cited in the new lawsuit as subject to seizure include a Park Avenue condominium, diamond jewelry, shares of Fly Wheel Sports Inc., a painting by Pablo Picasso titled “Nature Morte au Crane de Taureau” and rights to the 2014 film “Dumb and Dumber To.”
1MDB has consistently denied any misconduct.
This article has been summarised, the full original article can be found at bloomberg.com