KUALA LUMPUR: Almost US$9mil worth of assets linked to fugitive financier Low Taek Jho (Jho Low) and his family members, have been successfully repatriated to the 1Malaysia Development Berhad (1MDB) Asset Recovery Trust Account.
Assistance was received from Singapore's Commercial Affairs Department (CAD) over the matter.
"The recovered assets, totalling US$8.57mil (RM39.1mil), are the result of a global civil forfeiture settlement with Jho Low by the United States Department of Justice (DOJ).
"Other accounts belonging to Jho Low's family members are also scheduled for repatriation in the near future," the Malaysian Anti-Corruption Commission (MACC) said in a statement on Wednesday (Sept 10).
This latest recovery, along with the recent US$330mil(RM1.4bil) settlement with JPMorgan Chase & Co, brings the total amount of assets recovered by Malaysia from the 1MDB case to RM31.19bil, said the MACC.
On June 26, 2024, the US DOJ announced a global civil forfeiture settlement with Jho Low, which led to the recovery of assets exceeding US$100mil.
"In total, US authorities have secured over US$1.5bil linked to Jho Low, with a significant portion of these funds already returned to Malaysia," the MACC said.
This successful recovery is a testament to the ongoing efforts of the Malaysian Government through its Multi-Agency Task Force (MATF), led by the MACC.
"The task force also includes the Attorney General's Chambers, Bank Negara, the police and the National Anti-Financial Crime Centre.
"These efforts have been further strengthened by close cooperation with international authorities, particularly from the United Kingdom, the United States, Switzerland, Singapore, and France, under Mutual Legal Assistance arrangements," it said.
The 1MDB case remains one of the world's largest financial crimes.
"The Malaysian government certifies its commitment to bringing back all misappropriated funds and assets and ensuring all individuals and institutions involved are held accountable," the MACC said.
