In a statement, the embassy said the sum represented the fourth instalment of funds recovered from asset seizures related to the state investment arm.

According to the embassy, Washington is “pleased” that to date, it has been able to recover as well as assist in recovering and returning approximately US$1.4 billion (RM6.6 billion) in funds misappropriated from Malaysia.

US ambassador Edgard D Kagan said the embassy was very happy that this fourth tranche of assets from the justice department investigation was being transferred back to Malaysia.

“This extraordinary sum of money is going back to the people of Malaysia where it belongs and where it can finally be used for its original intended purpose, to better the lives of everyday Malaysians.”

The embassy went on to say that the US government remained committed to recovering and returning additional funds stolen from 1MDB.

In 2020, the US justice department said it was seeking to recover US$96 million in assets linked to 1MDB.

1MDB was a sovereign fund set up in 2009 with the help of financier Low Taek Jho, or Jho Low, to promote economic development. It was co-founded by Najib Razak, who was prime minister from 2009 to 2018.

It went on to raise billions of dollars in bonds for investment projects and joint ventures.

However, the justice department discovered that some US$4.5 billion of the funds had been diverted to offshore bank accounts and shell companies, many linked to Low, who last year was reported to be hiding in Macau.