Recovering 1MDB assets is priority

Recovering assets linked to 1MDB is the priority over capturing fugitive financier Low Taek Jho who is better known as Jho Low, said Home Minister Senator Datuk Seri Saifuddin Nasution Ismail.

“Our focus is on asset repatriation. It is understood that there has been a resolution between the DoJ and Jho Low.

“This is a matter for the DOJ, but when it involves our nation’s assets returned to the DOJ, our focus naturally shifts to the repatriation of national assets,” he told reporters at a press conference in Putrajaya.

Questions were raised on whether the purported settlement between Low and the US Department of Justice would affect the hunt for the alleged mastermind of the 1MDB scandal.

On June 26, the US DoJ announced on its website that it had reached an agreement with Low, his family members, and trust entities he had established to resolve two civil forfeiture cases.

DoJ confirmed that it will be recovering over US$100 million in 1MDB-linked money.

The civil forfeiture cases are on assets allegedly bought by Low and his family using money allegedly embezzled from 1MDB.

Low, his family members and the related trust entities have agreed to cooperate in transferring other assets in Hong Kong, Switzerland and Singapore that are linked to 1MDB funds to Malaysia.

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