Malaysian Jho Low relinquishes $700m in assets as part of effort to recoup stolen cash from world’s biggest financial fraud
The Malaysian financier at the heart of the massive 1MDB graft scandal has struck a settlement to forfeit assets worth $700m including a Beverly Hills hotel and a private jet, the US justice department has said.
Jho Low, 37, will relinquish the assets under the largest ever US civil forfeiture, intended to recover cash allegedly stolen in the 1MDB scandal, which helped topple Malaysia’s former regime.
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