Malaysia Recovers $8.57M Assets Linked to Fugitive Jho Low in 1MDB Case

Malaysia has recovered an additional US$8.57 million in assets linked to fugitive financier Low Taek Jho, also known as Jho Low, in connection with the multi-billion dollar 1MDB scandal. This latest recovery, combined with a US$330 million settlement with JPMorgan Chase, raises the total amount of assets recovered by Malaysia to RM31.19 billion (approximately US$7.4 billion). Malaysian and US investigators have determined that at least US$4.5 billion was stolen from the 1MDB fund between 2009 and 2014, with funds diverted to offshore accounts and shell companies linked to Low. Low had assisted former Malaysian Prime Minister Najib Razak in establishing 1MDB to promote economic development, but Najib was jailed in 2022 after being found guilty of corruption and money laundering related to the scandal. The ongoing asset recoveries and settlements represent significant progress in Malaysia's efforts to address the fallout from the 1MDB scandal. These developments underscore the global scale of the corruption scheme and the continued pursuit of justice by Malaysian authorities.