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KUALA LUMPUR - The Malaysian government, in collaboration with Singapore’s Commercial Affairs Department (CAD), has successfully recovered assets linked to fugitive businessman Low Taek Jho, or Jho Low, and his family amounting to USD8.57 million (RM39.1 million).
The Malaysian Anti-Corruption Commission (MACC), in a statement today, said the recovery was the result of a global civil forfeiture settlement against Jho Low carried out by the United States Department of Justice (DOJ).
According to MACC, other accounts belonging to Jho Low’s family members were also scheduled to be returned soon.
"This latest repatriation, along with the recent USD330 million (RM1.4 billion) settlement with JPMorgan Chase & Co, brings the total assets successfully recovered for Malaysia from the 1MDB case to RM31.19 billion,” the statement said.
MACC said that on June 26, 2024, the DOJ announced a global civil forfeiture settlement against Jho Low, which led to the recovery of more than USD100 million.
"In total, the US authorities have secured more than USD1.5 billion related to Jho Low, much of which has been repatriated to Malaysia,” it said.
MACC added that this success reflected the government’s continuous efforts through the Multi-Agency Task Force led by the commission, with the cooperation of the Attorney-General’s Chambers, Bank Negara Malaysia, the Royal Malaysia Police and the National Anti-Financial Crime Centre.
"These efforts have also been strengthened through close cooperation with international authorities, particularly from the United Kingdom, the United States, Switzerland, Singapore and France, under the framework of the Mutual Legal Assistance (MLA) agreements,” the statement said. - BERNAMA