PETALING JAYA: The Justice Department in the United States has reached an agreement with 1Malaysia Development Berhad (1MDB) former general counsel Jasmine Loo Ai Swan.
It said in a statement on Wednesday (July 23) that the agreement is to "recover artwork by Pablo Picasso and a financial account in Switzerland traced to funds allegedly embezzled from 1MDB".
"Additionally, the Justice Department has obtained forfeiture orders on other assets allegedly purchased with 1MDB funds by Low Taek Jho, also known as Jho Low," it said.
It added that this includes diamond jewelry and artwork by Vincent Van Gogh, Claude Monet, Pablo Picasso, Jean-Michel Basquiat, and Diane Arbus.
The Department then said that the agreement with Loo resolves the civil forfeiture action against the Picasso artwork and financial account in Switzerland under her control.
It added that the artwork and the account are worth approximately US$1.8mil (RM8.41mil).
"The agreement with Loo does not release any criminal claims against her," said the Justice Department.
It then added that the forfeiture of the other artwork and jewelry allegedly purchased by Low is based on a recent settlement agreement entered into in connection with real estate and artwork forfeitures in two other cases.
The Department said this resolves three additional civil forfeiture cases filed in the U.S. District Court for the Central District of California.
This comes after it brought civil forfeiture cases against assets that it alleges were acquired by Low and his co-conspirators using funds allegedly embezzled from 1MDB.
