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Recovering 1MDB assets from US is govt’s top priority: home minister | Scoop
Home Minister Datuk Seri Saifuddin Nasution Ismail (pic) has said that the government is prioritising the recovery of 1MDB assets following the settlement agreement between the US’ DoJ and Jho Low. – Azim Rahman/Scoop file pic, July 6, 2024
News

Recovering 1MDB assets from US is govt’s top priority: home minister

He says this will be the focus once they are returned to DoJ, responding to question on pursuing Jho Low

Scoop Reporters
Updated
3:32 PM MYT

 

PUTRAJAYA – The government is focusing on the recovery of 1Malaysia Development Bhd (1MDB) assets following the settlement agreement between the United States Department of Justice (DoJ) and Low Taek Jho, also known as Jho Low, said Home Minister Datuk Seri Saifuddin Nasution Ismail. 

“When our national assets are returned to the DoJ, our focus is on asset repatriation,” he said at a press conference after officiating the Police Day Run here today. 

When asked if the government is not focusing on pursuing Jho Low, he emphasised that the current priority is asset recovery, Bernama reported.

Recently, Jho Low was reported as handing over assets worth more than USD100 million (RM471 million), including a luxury apartment in Paris and artworks by Claude Monet and Andy Warhol. 

The agreement is meant to resolve the civil forfeiture case related to his involvement in the 1MDB corruption and embezzlement scandal. 

These assets are in addition to nearly USD1 billion (RM4.19 billion) of 1MDB funds, including a USD120 million (RM503 million) superyacht, previously forfeited from Jho Low and his family.

Low is alleged to have been at the centre of the 1MDB scandal, which saw billions of dollars from a state fund go missing.

In 2018, Malaysia charged Low in absentia with money laundering.

Since then, police and government officials have said they were actively searching for Low to locate and extradite him to Malaysia. – July 6, 2024

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