Quoted in BBC News
Washington: The United States Justice Department has secured an agreement with Fugitive Financier Jho Low to return over $100 Million allegedly embezzled from Malaysia’s State-owned wealth fund as part of the 1MDB Scandal.
This agreement includes the liquidation of artworks by Andy Warhol and Claude Monet along with releasing the luxury apartment in Paris. Assets worth $67 Million release to Malaysia.
More Read
The Justice Department said: “The agreement resolves the civil forfeiture action against a luxury apartment in Paris and artwork located in Switzerland by artists Andy Warhol and Claude Monet, which Low purchased for approximately $35 million in total.
“In addition, parties agreed to return to Malaysia real property and cash in bank accounts valued at approximately $67 million located in Hong Kong, Switzerland, and Singapore.”
This agreement marks a significant step in the ongoing efforts to recover assets linked to the massive financial scandal and to provide restitution to the Malaysian People.
