Malaysia recovers $11 million in assets linked to Jho Low in 1MDB case
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Jho Low had helped former Malaysian premier Najib Razak set up 1MDB to promote economic development.
PHOTO: THE STAR/ASIA NEWS NETWORK
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KUALA LUMPUR – Malaysia has recovered US$8.57 million (S$11 million) in assets linked to fugitive financier Low Taek Jho, also known as Jho Low, and his family in the multi-billion dollar 1MDB scandal, the anti-graft agency said on Sept 10.
The latest recovery, along with the recent US$330 million settlement with JPMorgan Chase, brings the total amount of assets recovered by Malaysia in the 1MDB case to 31.19 billion ringgit (S$9.5 billion), the Malaysian Anti-Corruption Commission said in a statement.
Malaysian and US investigators say at least US$4.5 billion was stolen from 1MDB in a globe-spanning scheme between 2009 and 2014, with some money sent to offshore bank accounts and shell companies linked to Low.
Low had helped former Malaysian prime minister Najib Razak set up 1MDB to promote economic development. Najib was jailed in 2022
