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DOJ Seeks Warhol, Monet Artwork In $96M 1MDB Clawback

Tiomkin Law Offices of Elliott Tiomkin > Legal News  > DOJ Seeks Warhol, Monet Artwork In $96M 1MDB Clawback

DOJ Seeks Warhol, Monet Artwork In $96M 1MDB Clawback

Law360 (July 1, 2020, 10:40 PM EDT) — The U.S. Department of Justice on Wednesday filed civil forfeiture complaints seeking about $96 million in assets allegedly related to money laundering by a Malaysian state-owned investment fund, including artwork by Claude Monet, Jean-Michel Basquiat and Andy Warhol.

The assets — which also include luxury Parisian real estate and financial accounts in Luxembourg and Switzerland — were used to launder funds misappropriated from 1Malaysia Development Berhad, the DOJ said.

“Combined with earlier civil forfeiture complaints filed beginning in July 2016, the United States has sought the forfeiture of more than $1.8 billion in assets traceable to funds embezzled from 1MDB,” the…

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