Jho Low reaches settlement with US authorities over 1MDB probe

Under the deal, Jho Low, seen here in a file photo, and parties related to him are set to waive rights to assets valued at over US$1 billion (S$1.4 billion) allegedly acquired with 1MDB-related funds. PHOTO: THE STAR PUBLICATION
Under the deal, Jho Low, seen here in a file photo, and parties related to him are set to waive rights to assets valued at over US$1 billion (S$1.4 billion) allegedly acquired with 1MDB-related funds. PHOTO: THE STAR PUBLICATION

Low Taek Jho, the chief person-of-interest in the global 1Malaysia Development Berhad (1MDB) saga, has reached a tentative settlement regarding his legal woes with the US Department of Justice (DOJ).

Sources told The Straits Times the settlement is wide-ranging and will resolve all outstanding civil and criminal suits against the Malaysian financier in the United States relating to the cases filed in the Central Court District of California in 2016.

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A version of this article appeared in the print edition of The Straits Times on October 31, 2019, with the headline 'Jho Low reaches settlement with US authorities over 1MDB probe'. Print Edition | Subscribe