FILE PHOTO: A construction worker talks on the phone in front of a 1Malaysia Development Berhad billboard at the Tun Razak Exchange development in Kuala Lumpur, Malaysia, in this February 3, 2016 file photo. REUTERS/Olivia Harris/
- The U.S. Justice Department is close to a deal with fugitive financier Jho Low to recover almost $1 billion that was misappropriated from Malaysian investment fund 1MDB, Bloomberg reported on Wednesday, citing a source familiar with the matter. Low faces charges in the United States and Malaysia over his alleged central role in the scandal at 1Malaysia Development Berhad , which was founded by former Prime Minister Najib Razak.A Justice Department spokesman declined to comment.
The deal is not expected to include an admission of guilt or wrongdoing and is not tied to the criminal action against Low, the report said.
The deal is not expected to include an admission of guilt or wrongdoing and is not tied to the criminal action against Low, the report said.