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Jho Low's deal will recover more of 1MDB loot but unlikely to sit well with Malaysia
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The asset forfeiture deal with the district court of California spells out that Low and parties related to him will waive their rights to a clutch of assets valued at roughly US$1 billion (S$1.36 billion) allegedly acquired with 1MDB-related funds.
PHOTO: AFP
KUALA LUMPUR - The settlement agreement between the US Department of Justice (DOJ) and fugitive financier Low Taek Jho is good news for Malaysia's campaign to recover funds that were allegedly looted from Malaysia's sovereign wealth fund 1Malaysia Development Berhad (1MDB).
But the deal is unlikely to sit well with Prime Minister Mahathir Mohamad's government because of the complications it could present to the ongoing 1MDB trials against former premier Najib Razak, Low and their accomplices.
