Jho Low Will Give Up as Much as $900 Million in Assets in 1MDB Scandal

The mysterious Malaysian financier at the center of an international money laundering scandal that toppled a prime minister and rocked Goldman Sachs has given up his claim to hundreds of millions of dollars in luxury apartments, yachts, jets and artwork that prosecutors say were bought with stolen money, the International New York Times reported. In a deal with federal prosecutors, the fugitive financier, Jho Low, has agreed to stop fighting for assets valued at $650 million to $900 million that were seized starting in 2016, according to court documents and two people familiar with the matter. It is one of the largest civil asset forfeiture recoveries by the United States government. Mr. Low is believed to be living in China, and he has not appeared in criminal court in the United States or Malaysia, where he is also charged. Read more