Low strikes deal with DoJ

  • Nation Premium
  • Friday, 01 Nov 2019

KUALA LUMPUR: The United States Department of Justice (DoJ) has reached a settlement to recover assets worth more than US$700mil (RM2.92bil) acquired by fugitive businessman Low Taek Jho, or Jho Low, and his family using funds allegedly misappropriated from 1Malaysia Development Bhd (1MDB).In a statement, the DoJ said the assets are located in the United States, the United Kingdom and Switzerland.

With the conclusion of this settlement, together with the prior disposition of other related forfeiture cases, the United States would have recovered or assisted in the recovery of more than US$1bil (RM4.18bil) in assets associated with the 1MDB international money-laundering and bribery scheme, it said.

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