US recovers US$700m in assets allegedly acquired with 1MDB funds

US recovers US$700m in assets allegedly acquired with 1MDB funds

Malaysiakini - News·2019-10-31 15:07

The Department of Justice has reached a settlement of its civil forfeiture cases against assets acquired by Low Taek Jho, aka Jho Low, and his family using funds allegedly misappropriated from 1MDB, Malaysia’s investment development fund, and laundered through financial institutions in several jurisdictions, including the United States, Switzerland, Singapore and Luxembourg.

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