Jho Low insists not admitting guilt in near-US$1b settlement with DoJ | Malaysia


Low remains wanted in Malaysia to stand trial on charges of money laundering related to 1MDB, as is his father, Tan Sri Larry Low Hock Peng. — Reuters pic
Low remains wanted in Malaysia to stand trial on charges of money laundering related to 1MDB, as is his father, Tan Sri Larry Low Hock Peng. — Reuters pic

KUALA LUMPUR, Oct 31 — Fugitive financier Low Taek Jho said his settlement with the US Justice Department (DoJ) to forfeit nearly US$1 billion (RM4.2 billion) in assets bought with funds allegedly misappropriated from 1MDB was not accompanied by a guilty plea.

Confirming the settlement that the Bloomberg news portal reported earlier, Low or Jho Low said the settlement resolves the US government’s proceedings against him, both civil and criminal, specifically in the Central District of California.

“Importantly, the agreement does not constitute an admission of guilt, liability or any form of wrongdoing by me or the asset owners.

“We believe all parties consider this resolution, which is subject to final court approval, to be a successful and satisfactory result,” Low said in a statement sent via his publicists.

Last week, Bloomberg also reported that Low was selling three pieces of property in London as part of an asset forfeiture suit the DoJ filed against him in 2017.

The suit was among 30 that various US authorities have launched against Low and his alleged accomplices over the 1MDB corruption scandal.

Low remains wanted in Malaysia to stand trial on charges of money laundering related to 1MDB, as is his father, Tan Sri Larry Low Hock Peng.

The younger Low is also wanted in Singapore in connection to the scandal.

Former prime minister Datuk Seri Najib Razak is already on trial for abuse, corruption and money laundering over the same scandal.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *