US Justice Department reaches settlement with Malaysian fugitive financier Jho Low over 1MDB probe

The settlement agreement represents yet another twist to the unfolding 1MDB saga that has rocked the global financial system.
The settlement agreement represents yet another twist to the unfolding 1MDB saga that has rocked the global financial system.PHOTO: REUTERS

KUALA LUMPUR - The United States Department of Justice (DOJ) has entered into a wide-ranging settlement with fugitive financier Low Taek Jho over his role in the saga that led to the collapse of state-owned 1Malaysia Development Berhad (1MDB).

Under the deal, US authorities agree that all disputes on asset seizure cases linked to the 1MDB scandal stand resolved, while Low will give up claims over a broad array of assets. The settlement stresses that there is no admission of guilt on the part of Low and those linked to him but does not impact Low's other criminal charges.

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