With the US Department of Justice actively seeking to recover the US$540 million (RM2.3 billion) in assets purportedly bought with funds misappropriated by the much-maligned Malaysian state fund 1MDB, as reported by various news sources, including Bloomberg, in the latest court filing, we take a look at some of the assets in question.
According to the court filing, the superyacht measures in at 300ft. It was registered in the Cayman Islands. Built by Oceanco in 2014, it can carry up to 26 guests and 33 crew members. Other facilities include a helipad, a gym, a cinema, a massage room, a sauna, a steam room, an experiential shower and a plunge pool. It even won the Best in Show at the 2014 Monaco Yacht Show.
One Madison Park condominium. The unit was purchased for US$4,531,212 on June 24, 2014.
Pablo Picasso painting Nature Morte au Crane de Taureau.
The oil on canvas pieces measures in at 65.5 x 92.5cm. According to the filing, on or about 2 January 2014, approximately US$3,200,000 was wired from the Platinum Global Account to the Monaco Art Dealer to acquire the Picasso Painting. That same month, the Picasso Painting was tendered as a gift to Leonardo DiCaprio. There was also a handwritten note to DiCaprio, “Dear Leonardo DiCaprio, Happy Belated Birthday! This gift is for you.”
Other pieces include Redman One collage by Jean-Michel Basquiat; single framed, three-sheet colour lithograph poster by Heinz Schulz-Neudamm for Silent, a 1972 silent film.
One 11.72ct heart-shaped diamond; One 8.88ct fancy intense pink diamond pendant surrounded by 11ct fancy intense pink diamonds; one 18ct white gold diamond jewellery set, including diamond necklace, diamond earring, diamond bracelet and diamond ring; one pair of 18k white gold diamond earrings consisting a 5.55ct diamond and a 5.49ct diamond; one pair of diamond earrings and matching diamond ring, consisting of a 7.53ct flawless type 2A diamond, a 3.05ct flawless type 2A diamond and a 3.08ct flawless type 2A diamond.
The filing shows that in February 2014, US$1.29 million 11.72ct heart-shaped diamond was purchased in Schwartz Inc., New York and the jewellery was given to Miranda Kerr, an Aussie model, as a gift in time for Valentine’s Day.
Dumb and Dumber To. According to the filing, tens of millions of dollars in diverted 1MDB funds were transferred into and through various bank accounts at City National Bank in LA associated with Red Granite Pictures in 2013 and 2014, and that money was ultimately used to fund the production of Dumb and Dumber To, a motion picture co-produced by Red Granite Pictures, Universal Pictures and New Line Pictures.
Dumb and Dumber To LLC was a special-purpose vehicle created by Red Granite Pictures to produce the Dumb and Dumber To movie. The movie was released in the US on 11 November 2014.