Singapore will keep pursuing 1MDB-linked fugitive Jho Low, police say
The Singapore police said on July 16 they are still pursuing Malaysian fugitive Low Taek Jho in relation to his alleged involvement in the multibillion-dollar 1MDB corruption scandal.
This was in response to a media report on June 28 in which the United States Department of Justice (DOJ) is said to have signed a confidential agreement in early June with Low regarding the forfeiture of 1MDB assets. The agreement is part of a global settlement that could conclude an asset forfeiture campaign.
The report said the DOJ signed the agreement with Low’s family lawyers and their financial trustees, which would involve surrendering assets previously identified by the authorities.
The DOJ had once described the 1Malaysia Development Berhad (1MDB) scandal as the world’s largest kleptocracy case. The scandal resulted in the imprisonment of former Malaysian premier Najib Razak.
The fugitive, better known as Jho Low, has repeatedly declared his innocence. Malaysia has been seeking to recoup the more than US$4.5 billion (S$6.05 billion) that is believed to have vanished from the state fund.
The Singapore Police Force said Low’s agreement with the DOJ to settle civil actions against him and his family has no bearing on its criminal investigations against him and his associates.
“Our Interpol red notice against him remains in effect,” it said in a statement. A red notice is a request to law enforcement worldwide to locate and provisionally arrest a person.
So far, the Singapore authorities have obtained court orders to release about $103 million in funds linked to 1MDB to the Malaysian government.
About $164 million of 1MDB-related assets in Singapore remain seized or prohibited from disposal, including about $101 million linked to Low and his family.
“The police, together with the Attorney-General’s Chambers, are working with our foreign counterparts to return these assets to Malaysia in accordance with the terms of the settlement agreement between Low and his family members and the US DOJ, and with our laws,” said the city state’s police force.
On June 26, the DOJ announced it will recover an additional US$100 million to resolve two civil forfeiture cases.
The assets involved include artworks by Andy Warhol and Claude Monet, cash in bank accounts in Hong Kong, Switzerland and Singapore, and properties in Singapore and elsewhere.
Source: Straits Times © SPH Media Limited. Permission required for reproduction.
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