US agrees $700m settlement over 1MDB
The Malaysian financier at the heart of the massive 1MDB graft scandal has struck a settlement to forfeit assets worth $700 million including a Beverly Hills hotel and a private jet, the US Justice Department said Wednesday. Jho Low will relinquish the assets under the largest ever US civil forfeiture, intended to recover cash allegedly stolen in the 1MDB scandal which helped topple Malaysia’s corruption-plagued former regime.
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