PETALING JAYA: The US justice department is said to have inked a confidential agreement with fugitive financier Low Taek Jho, or Jho Low, to reach a global settlement to the forfeiture of 1MDB assets.
According to documents reviewed by CNA, the updated settlement plan would see the surrendering of assets that were previously identified by the authorities. The agreement is linked to the DoJ’s announcement on June 26 that it would be recovering an additional US$100 million in resolving two civil forfeiture cases, including artworks by Claude Monet and Andy Warhol.The DoJ previously brought the cases against assets that it alleges were acquired by Low and his family using funds allegedly embezzled from 1MDB.
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