Malaysia Recovers Rm39m From Jho Low Family With Singapore S Help

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The Malaysian government and Singapore’s Commercial Affairs Department have recovered US$8.57 million (RM39.1 million) in assets linked to fugitive financier Low Taek Jho, better known as Jho Low, and his family.
The MACC said that the funds have been transferred into the 1MDB asset recovery trust.
"The recovered assets, amounting to US$8.57 million, were the result of a global civil forfeiture settlement against Low undertaken by the US Department of Justice (DOJ).
“In addition, other accounts belonging to Low’s family members are scheduled to be returned in the near future," the anti-graft agency added.
MACC said this latest recovery, along with a recent US$330 million settlement with JPMorgan Chase & Co, brings the total assets returned to Malaysia in relation to the 1MDB case to RM31.19 billion.
"On June 26, 2024, the US DOJ announced a global civil forfeiture settlement against Low, which led to the recovery of over US$100 million.
“Altogether, US authorities have secured more than US$1.5 billion connected to Low, most of which has been repatriated to Malaysia," it explained.
Close collaborations
MACC said these recoveries reflect the government’s continued efforts through the multi-agency task force led by the agency, in cooperation with the Attorney-General’s Chambers, Bank Negara Malaysia, the police and the National Financial Crime Prevention Centre.
"The success has also been reinforced by close collaboration with international authorities, particularly from the United Kingdom, the US, Switzerland, Singapore and France, under the framework of Mutual Legal Assistance agreements," it added.
Low, the alleged mastermind of the 1MDB scandal, faces multiple corruption and money laundering charges. He is also wanted in the US.
He is accused of orchestrating the swindling of US$4.5 billion from 1MDB. - Mkini

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