KUALA LUMPUR: The Malaysian government has successfully recovered RM39.1 million in assets linked to fugitive businessman Jho Low and his family through international cooperation.
This recovery resulted from collaboration between Malaysian authorities and Singapore’s Commercial Affairs Department following a global civil forfeiture settlement by the United States Department of Justice.
The Malaysian Anti-Corruption Commission confirmed that additional accounts belonging to Jho Low’s family members are scheduled for return in the near future.
This latest repatriation combined with the recent RM1.4 billion settlement with JPMorgan Chase brings Malaysia’s total 1MDB asset recovery to RM31.19 billion.
The United States Department of Justice announced the global civil forfeiture settlement against Jho Low on June 26, 2024, leading to the recovery of more than USD100 million.
American authorities have secured over USD1.5 billion related to Jho Low, with the majority already repatriated to Malaysia.
This success demonstrates the Malaysian government’s continuous efforts through the Multi-Agency Task Force led by the commission.
The task force includes cooperation from the Attorney-General’s Chambers, Bank Negara Malaysia, the Royal Malaysia Police and the National Anti-Financial Crime Centre.
International cooperation with authorities from the United Kingdom, United States, Switzerland, Singapore and France under Mutual Legal Assistance agreements has strengthened these recovery efforts. – Bernama
