US strikes deal with fugitive Jho Low to recoup almost $1bn stolen from 1MDB
Malaysian financier will forfeit luxury boutique hotel in Beverly Hills and properties in New York and London valued at $700m
The US justice jepartment has struck a deal with the fugitive Malaysian financier Jho Low to recoup close to $1bn of money taken from the investment fund 1MDB – the largest sum recovered by the Kleptocracy Asset Recovery Initiative established a decade ago to counter international corruption.
Low, who is believed to be living in China and remains subject to an Interpol red alert, is accused of orchestrating the theft of $4.4bn from 1MDB, a development fund connected to Malaysia’s then prime minister, Najib Razak.
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