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US to recover $1 billion from Malaysian fugitive Jho Low in record deal

The Justice Department has struck a deal to recoup $1 billion in funds allegedly looted from a Malaysian state investment fund by fugitive financier Jho Low, in a record capture for a US anti-corruption probe. US authorities say about $4.5 billion was siphoned from 1Malaysia Development Berhad (1MDB), founded in 2009 by then-Malaysian Prime Minister Najib Razak. Since 2016, the Justice Department, in the biggest-ever case in its anti-kleptocracy program, has filed civil lawsuits seeking to seize about $1.7 billion in assets allegedly bought with stolen 1MDB funds. Low, who called Wednesday’s agreement “historic” in a statement issued on his behalf, faces charges in both the United States and Malaysia over his central role in th ...
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