PETALING JAYA (BLOOMBERG, THE STAR/ASIA NEWS NETWORK) - A set of diamond jewellery worth US$1.7 million (S$2.3 million) that fugitive Malaysian businessman Low Taek Jho allegedly bought with money stolen from 1MDB for his mother will be handed over to the United States government.
A pair of flawless diamond earrings and 7.53-carat diamond ring will be transferred by a custodian to the US as part of a forfeiture lawsuit, according to a Justice Department filing.
The jewellery was held by Ms Goh Gaik Ewe, Low's mother. She is reported to be residing in Thailand, with the Justice Department aiming to seek the cooperation of Thai authorities to serve a warrant for the jewellery.
Low, also known as Jho Low, who remains at large, is facing criminal charges linked to his alleged role in troubled Malaysian state fund 1Malaysia Development Berhad (1MDB).
The transfer should not be construed as an admission of wrongdoing or liability, according to the filing.
In a statement through his spokesman, Low said he was "pleased" to learn that the Justice Department and relevant parties are working to amicably resolve the matter.
"We look forward to the continuing resolution of these issues," he said in the statement.