Jho Low Settles 1MDB Forfeiture for Over $100M

The United States Department of Justice (DOJ) has reached a confidential agreement with fugitive financier Jho Low to settle civil forfeiture cases related to the 1MDB corruption scandal. Under this agreement, Low will forfeit over $100 million in assets, including artworks by Andy Warhol and Claude Monet, a luxury Paris apartment, and $67 million in real estate and financial deposits in multiple countries. This settlement aims to resolve longstanding asset forfeiture actions linked to the embezzlement of more than $4.5 billion from 1MDB, a Malaysian sovereign wealth fund. Despite this agreement, Low still faces criminal charges for money laundering and bribery in the United States. The DOJ has previously helped return over $1.5 billion to Malaysia in connection with the 1MDB scandal. The agreement marks a significant step towards closure in one of Washington's longest-running asset forfeiture cases.