The Federal Government is expected to recover overseas assets worth an estimated US$107.3 million (RM465.3 million) in the money laundering case faced by Riza Shahriz Abdul Aziz, the stepson of former prime minister Datuk Seri Najib Tun Razak.

The Malaysian Anti-Corruption Commission (MACC) said in a statement today that the prosecution had applied to the court for Riza to be given a discharge not amounting to an acquittal over several charges made on July 5, 2019, at the Sessions Court here.

The MACC said it was a conditional discharge, whereby the prosecution had the right to reinstate the charges if the agreement was not satisfactorily completed.

“As a result, the Malaysian government is expected to recover overseas assets involved in the offence, which is estimated at US$107.3 million (RM465.3 million).

“Under the agreement, the accused is required to pay a compound to the government under Section 92 of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001, which is punitive as an alternative to the charges that have been brought against him,” the statement said.

The MACC said the agreement between the prosecution and the accused, through representation in court, was a decision considered and agreed by former attorney-general Tan Sri Tommy Thomas.

Riza, who had been charged with money laundering involving US$248 million (RM1.25 billion) linked to 1Malaysia Development Bhd (1MDB), was granted a discharge not amounting to an acquittal by the Sessions Court earlier today.

Former Federal Court judge Datuk Seri Gopal Sri Ram, who was appointed as the lead Deputy Public Prosecutor to handle the case, said an agreement had been reached between the prosecution and the accused under the terms of which the Federal Government would receive a substantial sum involving several million ringgit.

“As a result of the agreement, the charges against Riza will not be proceeded for now, pending the completion of the agreement.

Sri Ram said if (the prosecution) was satisfied with the completion of the agreement, appropriate steps would be taken to ensure the accused was fully discharged.

“Otherwise, the prosecution has the right to reinstate the charges in accordance with the law,” he said.

On July 5 2019, Riza, 43, who is the founder of Red Granite Pictures, pleaded not guilty to five charges of money laundering.

-- BERNAMA