US to recover $1 billion from Malaysian fugitive Jho Low in record deal

The Justice Department has struck a deal to recoup $1 billion in funds allegedly looted✤ from a Malaysian state investment fund by fugitꦦive financier𒉰 Jho Low, in a record capture for a US anti-corruption probe.

US authorities say about $4.5 billion was siphoned from 1Malaysia Development Be🅷rhad (1MDB), founded in 2009 by then-Malaysiꦜan Prime Minister Najib Razak.

Since 2016, the Justice Department, in the biggest-ever case in its anti-kleptocracy program, has filed civil l🅘awsuits seeking to seize about $1.7 billion in assets allegedly bought with stolen 1MDB funds.

Low, who called Wednesd🎃ay’s agreement “historic” in a statement is⭕sued on his behalf, faces charges in both the United States and Malaysia over his central role in the scandal.

Low agreed to give up a private jet, high-end real estate in Beverly Hills, New York aཧnd London, and other assets totaling $700 million, the Justice Department said in a statement and court document filed Wednesdaꦐy.

That’s on top of a $126 million yacht and $140 million in other assets previously forfeited. If approved, the settlement will mark the largest civil forf💞⛎eiture ever concluded by the Justice Department, it said.

“The message in this case is simple: The United States is not a safe haven for pilfered funds,” said US Attorney Nicola T.🔴 Hanna of the Central District of California.

The deal does not include an admission of guilt or wrongdoing and is not 🌸tied to the criminal action against Low.

“I am very pleased to confirm that a landmar🔯k comprehensive, global settlement has been reached with the United States government,▨” Low said in the statement.

Malaysia’s Prime Minister Mahathir Mohamad said Malaysia will file♐ a claim on🎐 the forfeited assets.

“The assets were bought with Malaysian money, we have proof that it was Malaysian money, we will now make a claim wi🃏th the American government,” he told reporters Thursday.

𒊎🧜In May, the United States began returning $200 million to Malaysia, following the sale of 1MDB-linked assets.

1MDB is the subject of corrupti⭕on and🍬 money-laundering investigations in at least six countries.

Malaysian police last year filed charges and issued arrest warrants for Low and several of his asso🐲ciates, whose whereabouts are unknown. Low has consistently denied wrongdoing.

Asked about any negotiations with other parties, a spokesman for his lawyers reitera🎀ted their previous stand on the issue: “If and when Mr. Low is confident that he will be safe and treated fairly, he looks forward to addressing any remaining issues.”

Low has,𝕴 however, said he does not expect to get a fair deal in Malaysia as long as Mahathir is in🏅 power.