PUTRAJAYA – Malaysia is aware of the deal that fugitive businessman Low Taek Jho, otherwise known as Jho Low, has cut with the US Department of Justice (DOJ), but will not be letting up on its hunt for the fugitive businessman.
Low reportedly entered into a confidential settlement with the DOJ regarding the forfeiture of 1Malaysia Development Berhad (1MDB) assets, but sources in the federal administrative capital said this “in no way means that Malaysian authorities will stop looking for him”.
A top-ranking official with knowledge of the investigation on 1MDB and the hunt for the fugitive financier, said the Malaysian government and the authorities were aware of the agreement between Low and the DOJ, which had once described the 1MDB scandal as the world’s largest kleptocracy case.
The official said: “We are aware that both parties have entered into an agreement. We are in the know of what is happening.
“The agreement means that more assets related to 1MDB can be recovered and returned (to Malaysia).”
But the official did not disclose when the DOJ and Low had made the agreement and whether the Malaysian authorities were involved in stipulating its terms.
But Malaysia would continue to track down Low, the official said.
The official said: “The agreement is about recovery of assets.
“We have not stopped looking for him (Low) and will not stop until he is found.”
According to CNA, the DOJ entered into a confidential agreement with Low in a bid to reach a global settlement to the years-long asset forfeiture campaign.
Citing records it had viewed, CNA said the global settlement agreement would “forever (resolve) the United States’ civil, criminal and administrative asset forfeiture actions or proceedings relating to the disposition” of assets tied to 1MDB.
It reported that the DOJ signed a confidential agreement in early June with Low’s family lawyers and their financial trustees, which would involve surrendering assets previously identified by the authorities.
The agreement to try to reach a global settlement was signed by DOJ’s acting chief of money laundering and asset recovery section Margaret A. Moeser, lawyers for the Lows’ financial trustee and his family lawyer Robin Rathmell of law firm Kasowitz Benson Torres.
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