31 May 2019
U.S. prosecutors are seeking to sell two luxury condominiums in New York City linked to fugitive financier Low Taek Jho, court documents showed, the latest effort to recover money allegedly stolen from Malaysia’s state fund 1MDB.
Low, known as Jho Low, has been charged in Malaysia and the United States for his role in the suspected theft of about $4.5 billion from state fund 1Malaysia Development Berhad (1MDB).
Low has denied wrongdoing and his whereabouts is unknown.
Since 2016, the U.S. Department of Justice has filed forfeiture lawsuits on about $1.7 billion in assets allegedly bought with stolen 1MDB funds, including a private jet, luxury real estate and jewelry.
The United States this month began returning to Malaysia some $200 million recovered from the sale of seized assets.
By Rozanna Latiff, Reuters, 30 May 2019
Read more at Reuters
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