RM120mil worth of artwork to be seized

PUTRAJAYA: A Pablo Picasso artwork valued at US$1.2mil (RM4.741mil) is among eight high-value paintings – all linked to the 1Malaysia Development Berhad (1MDB) scandal – that are expected to be recovered by the end of this year.

The seizure of the eight, worth a total of more than RM120mil, follows the recovery of four other paintings in April, says Tan Sri Azam Baki.

The Malaysian Anti-Corruption Com­mission (MACC) chief commissioner said the seizure of the assets was done with cooperation between Malaysia and various countries, particularly the United States (US).

Besides the Picasso, the artworks include pieces by Henri Matisse valued at US$52,500 (RM207,453), Alexander Calder valued at US$125,000 (RM493,937), William H. Bailey valued at US$66,250 (RM261,786) and Raoul Dufy valued at US$40,000 (RM158,060).

Paintings by Salvador Dalí and Gustave Loiseau are still under verification, Azam added.

“The value of the paintings still under recovery is estimated at about US$1.7mil or approximately RM6.9mil.

“We made a breakthrough in recovering the assets through mutual legal assistance with the US Department of Justice (US DOJ).

“If all goes well, we will get the paintings by the end of this year,” he told reporters yesterday.

“We are also actively working to recover proceeds from the sale of a Claude Monet titled Vétheuil au Soleil, which was sold in Switzerland for approximately €25.2mil (RM114mil).

“These funds are currently under seizure proceedings by the US authorities and recovery efforts are ongoing through legal channels with authorities in the US and Switzerland,” he said.

Azam said the four recovered pieces of art linked to 1MDB, worth almost RM800,000, will be sent to the National Art Gallery next week.

The four paintings are Joan Miró’s Composition (1953), Maurice Utrillo’s Maison de rendez-vous de chasse de Henri IV, Rue St. Vincent, Montmartre (1934), Balthus’ Étude pour femme couchée (1948) and Pablo Picasso’s L’Ecuyère et les clowns (1961).

The gallery’s director-general will decide when the artworks will be displayed to the public.

“The artworks need to be handed over to the gallery as soon as possible. Personally, I feel the paintings should be kept by the government.

“These artworks are not merely of commercial value but are also symbols of the country’s largest corruption scandal. They should serve as a lesson for future generations,” he said.

He said the fate of these artworks rests with the Finance Ministry, which will decide whether they should be put up for auction or kept at the gallery.

On April 9, the four pieces of artwork were transported from New York and arrived at Kuala Lumpur International Airport on April 10.

“They have been kept at the MACC headquarters under tight security involving multiple agencies such as the Customs Department, the National Art Gallery and logistics personnel.

“The paintings underwent authenticity verification, as well as temperature and lighting control measures to ensure their preservation is in accordance with international standards set by the National Art Gallery,” he said.