Four paintings linked to one of the world’s most audacious financial frauds stood on easels at Malaysia’s anti-corruption headquarters on Wednesday: a Picasso, a Miro, a Balthus and an Ultrillo – all allegedly bought with money stolen from the Malaysian people.
The unveiling of the works at the Malaysian Anti-Corruption Commission’s (MACC) headquarters in Putrajaya marked the first public showing of artworks recovered from the multibillion-dollar Malaysia Development Berhad (1MDB) scandal since they were repatriated from New York last month.
Traced through Sotheby’s auction house and flown back to Malaysia on April 14, the canvases arrived in wooden crates and were unpacked under controlled lighting and temperature conditions supervised by the National Art Gallery.
Their combined estimated value – about US$198,125 – is modest by the standards of the scandal that produced them. Yet their symbolism is anything but.
No matter how large the amount stolen through this scandal, every cent belonging to the people must be returned
Together, they represent one strand in a web of corruption that US investigators say looted more than US$4.5 billion from Malaysia’s sovereign wealth fund between 2009 and 2014, funnelling the proceeds into luxury real estate, superyachts, Hollywood film deals and the art collections of the well-connected.
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