Worth around RM 60 million, four rare Bugatti Veyrons reportedly linked to 1MDB scandal seized in Germany

The Malaysian Anti-Corruption Commission (MACC) has confirmed it is seeking clarification from German authorities regarding the recent seizures of 4 Bugatti Veyrons, which are reportedly linked to the 1MDB scandal.

Bernama reports, that the latest seizures further add to 50 other luxury vehicles seized in 2018 by Swiss authorities, which are also part of MACC’s sprawling multinational investigation into 1MDB. The first 50 vehicles seized are valued at around RM 200 million.

These 50 vehicles are believed to be owned by Emirati businessman Khadeem al Qubaisi, a key figure and former senior executive of an International Petroleum Investment Company (IPIC) subsidiary company that is linked to investigations into 1MDB. However, it is unclear at this point if the latest 4 seized vehicles are also owned by Qubaisi.

MACC Chief Commissioner Azam Baki said recently that its investigations into 1MDB started in 2020, which were followed by a 2021 meeting with the Swiss Attorney-General’s office, further discussions happened in March 2022 aimed to advance MACC’s request for assistance and gather more information about the seized vehicles.

German newspaper BILD which reported on the seized vehicles in Germany, said the models are part of the Veyron "Legend Series” – a line of ultra-rare Veyron editions introduced in 2013, built in honour of key figures from Bugatti’s history. The 4 vehicles were found under tarpaulins in an underground car park at Munich's ‘Motorworld’, a high-end vehicle storage and event facility.

The 4 Veyron Legend Series models seized were reportedly the Rembrandt, Black Bess, Jean-Pierre Wimille, and Meo Constantini versions – 4 of a total 6 within the series, which are limited to just 18 worldwide (3 of each version).

Though price estimates of what they are worth now aren’t available; Legend Series Veyrons retailed for USD 3.14 million (~RM 14.9 million) each when they went on sale. Given their rarity, it is reasonable to estimate that the vehicles are worth more now.

In further correspondence, BILD was told by German law enforcement that the raids were parts of a ‘request for legal assistance’ and that the case is referred to the Federal Prosecutor's Office in Bern, Switzerland, as part of ongoing criminal proceedings.

Qubaisi is currently serving a 15 year after being sentenced to financial crimes in 2019, though for crimes unrelated to 1MDB, according to reporting by the Wall Street Journal in period.

In all, the US Department of Justice alleges that a total of USD 4.5 billion (~RM 21.4 billion) was siphoned from the 1MDB fund. Both Qubaisi and another associate, Mohd Badawy al Husseiny, who managed the IPIC subsidiary company, were implicated as part of a group of co-conspirators who benefitted from embezzled funds linked to the 1MDB scandal.