MACC Investigates Four 1MDB-Linked Bugattis Seized In Germany

The Malaysian Anti-Corruption Commission has recently confirmed that it has sent a request to German authorities in order to request the latest information regarding the seizure of four Bugatti Veyron sports cars.

According to Bernama, MACC chief commissioner Tan Sri Azam Baki said that the MACC had requested information from the German authorities in 2022 regarding the 1Malaysia Development Bhd (1MDB) bond funds used to purchase luxury cars in that country.

Investigation into 50 luxury cars involved in 1MDB investigation since 2021

Azam mentions that the issue was being investigated since 2020. In light of recent developments, the MACC has submitted a request for updated information from the German authorities.

“It started when a Mutual Legal Assistance request to Switzerland was made by MACC to obtain information about frozen assets related to the 1MDB case in November 2020.

“This was followed by a meeting with the Office of the Attorney General of Switzerland regarding the 50 luxury cars involved in the 1MDB investigation in 2021,” Azzam said.

According to Channel News Asia, German daily Bild reported four special edition Bugatti Veyron model cars were seized by German police from a private storage facility in Munich. It appears that all four cars have links to the 1MDB scandal.

Seized special edition Bugattis worth RM14.4 million each

The supercars seized are a part of the exclusive “Legends” series of Bugatti hypercars. Only around 18 of these cars were ever produced. The four vehicles are the Rembrandt edition Veyron, Black Bess, Jean-Pierre Wimille, and Meo Constantini. Each car has a price tag of around USD 3 million (approximately RM14.3 million).

The 1MDB scandal involved personalities ranging from politicians and bankers to Hollywood stars. It has also led to criminal investigations in several countries.

Inspector-General of Police Tan Sri Razarudin Husain also confirmed that his department is ready to and waiting to assist with the investigation. In 2021, MACC cooperated with international enforcement agencies to track down and successfully repatriate 1MDB assets which totaled more than RM20.53 billion to the Malaysian government.

1MDB assets worth RM28.2 billion recovered until March 2023

MACC stated that the agency is now actively pursuing the recovery of 1MDB funds assets within and outside the country,. This includes the United States, the United Arab Emirates, Taiwan, and Singapore.

Just last year, MACC had successfully retrieved RM23.9 million in proceeds from the 1MDB asset recovery process from August 2023 to 5 February 2024.

In March 2023, Azam then confirmed that the government had successfully recovered over 70 per cent of 1MDB assets involving approximately RM28.3 billion.