DoJ deal doesn’t mean hunt for Jho Low is over, says Johari

PETALING JAYA: The US department of justice’s (DoJ) confidential agreement with Low Taek Jho is a matter separate from the Malaysian government’s efforts to arrest the fugitive financier, says Johari Ghani.

The 1MDB asset recovery task force chairman said the DoJ had its own criminal punishments that it would impose on Low, commonly known as Jho Low, reported Berita Harian.

“What they want to do with Low is their right, but any (assets or funds) that they recover will be sent back to Malaysia.

“Our issue at this juncture concerns the settlement agreement that the previous government made with Goldman Sachs, which promised to pay an additional US$1.4 billion (RM6.59 billion) on top of the US$2.5 billion (RM11.78 billion) that has already been paid.”

The DoJ’s agreement with Low for a settlement to the forfeiture of 1MDB assets was said to have been signed with the financier’s family lawyers and their financial trustees in June.

CNA reported that the global settlement plan would see the surrender of assets previously identified by the authorities. Assets that were not previously claimed or seized by prosecuting agencies worldwide would also be handed over.

The agreement is linked to the DoJ’s announcement on June 26 that it would be recovering an additional US$100 million in resolving two civil forfeiture cases, including artwork by Claude Monet and Andy Warhol.

The DoJ previously brought the cases against assets that it alleges were acquired by Low and his family using funds allegedly embezzled from 1MDB.

The businessman also agreed to cooperate in the transfer to Malaysia of certain other assets located in Hong Kong, Switzerland and Singapore that are linked to the state investment arm’s funds.