The U.S. Justice Department on Wednesday struck a deal to recoup $1 billion in f...
NEW YORK/KUALA LUMPUR - The U.S. Justice Department on Wednesday struck a deal to recoup $1 billion in funds allegedly looted from a Malaysian state investment fund by fugitive financier Jho Low, in a record capture for a U.S. anti-corruption probe.
Low, who called the agreement “historic” in a statement issued on his behalf, faces charges in both the United States and Malaysia over his central role in the scandal. The settlement also includes assets in the United Kingdom and Switzerland, as well as funds from the sale of Low’s stake in EMI music publishing group.
“If and when Mr. Low is confident that he will be safe and treated fairly, he looks forward to addressing any remaining issues”. Malaysia has filed criminal charges against Goldman and 17 current and former directors of the bank’s units for allegedly misleading investors over bond sales totaling $6.5 billion that the bank helped raise for 1MDB.
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