Malaysian authorities file fresh charges against fugitive financier Jho Low over 1MDB scandal
- Low and four others were charged with 13 money laundering and criminal breach of trust offences involving losses of 1MDB funds totalling US$1.17 billion
- 1MDB was founded by former Malaysian premier Najib Razak in 2009 and is the subject of money-laundering probes in at least six countries, including the US, Switzerland and Singapore
Malaysian police filed fresh criminal charges and issued arrest warrants for fugitive financier Low Taek Jho and four others wanted in connection with a multibillion-dollar scandal at state fund 1MDB, officials said on Wednesday.
Low, popularly known as Jho Low, has been identified by Malaysian and US investigators as a central figure in the alleged theft of about US$4.5 billion from 1Malaysia Development Berhad (1MDB). Low, whose whereabouts are not known, has denied any wrongdoing through a spokesman.
Last month, US prosecutors charged Low and two former Goldman Sachs bankers with conspiracy to launder 1MDB money and conspiracy to violate the Foreign Corrupt Practices Act.
On Tuesday, Low and four others were charged with 13 money laundering and criminal breach of trust offences involving losses of 1MDB funds totalling US$1.17 billion or 4.2 billion ringgit, based on foreign exchange rates at the time of the offence, Malaysian police chief Mohamad Fuzi Harun said in a statement.
Arrest warrants were issued against the five who have left Malaysia, Mohamad Fuzi said.