Najib Associate Bustari Yusof Settles 1MDB-Linked Lawsuit with Putrajaya

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Businessman Bustari Yusof has forfeited some RM3.7 million to the Malaysian Anti-Corruption Commission as part of a settlement for a 1Malaysia Development Bhd-related forfeiture suit.

Bustari, who was previously reported to have close ties to former prime minister Najib Razak, has today settled a civil suit where the government had sought the return of RM11.9 million of funds allegedly belonging to 1Malaysia Development Berhad (1MDB).

According to news reports, Bustari had forfeited RM3.7 million to the government to settle the latter’s forfeiture application for RM11.9 million.

Deputy public prosecutor Allan Suman Pillai reportedly told the court that the RM3.7 million settlement amount was agreed by both sides, and that the Malaysian Anti-Corruption Commission (MACC) had confirmed receiving a cheque for RM3.683 million yesterday.

He also reportedly said that the prosecution has been instructed to lift a freeze on Bustari’s bank account.

The case came up before High Court judge Collin Lawrence Sequerah today, who then struck out the case after being informed of the settlement.

MACC filed a suit in July to seize RM11.92 million from Bustari.

His lawyers later sent a representation letter to Attorney-General Tommy Thomas, containing a proposal for settlement.

Bustari, who is a brother of former works minister Fadillah Yusof, was not present in court today.

Norman Goh/Malaysiakini

He reportedly left the country after the May 9 elections last year.

Bustari was also previously reported to be the owner of Obyu Holdings, which is the respondent in a separate forfeiture case involving RM680 million worth of assets seized.

In the forfeiture suit filed in May 2019, the government sought the forfeiture from Obyu of 11,991 pieces of jewellery, 401 watches and 16 watch accessories, 234 sunglasses and 306 handbags, a property in Kuala Lumpur and RM114,164,393.44 or over RM114 million seized from the company.

This case has been fixed for case management on December 9.