On 13 February 2017, the French National Financial Prosecutor's Office (“Parquet National Financier”) opened a preliminary investigation on its own initiative, entrusted to the Central Office for Combating Corruption and Financial and Tax Offences (”OCLCIFF”), on charges of laundering the misappropriation of public funds regarding, among other things, the major real estate investments made in France by Khadem AL QUBAISI, former head of the Abu Dhabi investment fund (IPIC).
The "Khadem AL QUBAISI" section of the "1MDB" affair only concerned part of the misappropriations committed against the Malaysian sovereign wealth fund between 2009 and 2016. Depending on the source, the amount involved was estimated at between USD 6 and 10 billion.
[Source: France, October 2024]
At time of reporting (2020), there was an investigation/prosecution related to this case in the country of origin (Malaysia) but the status was unknown.
There was an ongoing investigation/prosecution related to this case in the country of asset location (France).
Asset amount at time of freezing/seizure was between 130 and 150 million EUR.
At time of reporting (2020), the assets were still frozen/seized.
Action initiating asset recovery was conducted by Parquet National Financier.