Jho Low gives up US$1bil (RM4.18bil) in assets to settle 1MDB suits

The 1MDB global corruption scandal has toppled a government, ensnared a Wall Street powerhouse and set off investigations across the globe. The proposed settlement was filed Wednesday (Oct 30) in a California court.

It would be the most significant win for the Justice Department's Kleptocracy Asset Recovery Initiative since it was set up almost a decade ago to prevent the United States from becoming a safe haven for stolen money.