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Malaysia 1MDB scandal: Government rejected Jho Low’s US$337 million offer to settle case, report says
- The New Straits Times said the fugitive financier, through his representatives, met with several government agencies for the settlement earlier this year
- Low, who has denied wrongdoing, is accused of stealing US$1.42 billion from the Malaysian state investment fund
Malaysia’s attorney general rejected attempts by financier Jho Low to reach a settlement in the 1Malaysia Development Berhad (1MDB) scandal, The New Straits Times reported.
Low, through his representatives, met with several government agencies including the attorney general’s chambers (AGC) for the settlement earlier this year, the paper cited the AGC as saying in a statement. The AGC rejected all the offers, it said, without providing a reason for the dismissal.
Low is wanted in connection with scandals involving 1MDB, and he is accused of stealing US$1.42 billion from three bond transactions that Goldman Sachs Inc. arranged for the Malaysian wealth fund.
He offered the Malaysian government 1.5 billion ringgit (US$337 million) to settle charges against him, The Edge newspaper reported on Friday, citing sources it didn’t identify.
While Low has denied wrongdoing, US prosecutors struck a deal in 2020 with him to recoup almost US$700 million worth of assets, including a Beverly Hills hotel and real estate in New York and London. That’s in addition to US$260 million of assets, including a US$126 million super yacht, seized earlier on Malaysia’s behalf.
Low remains at large. Malaysian police were reported as saying in April they were still trying to determine Low’s whereabouts as they intended to bring him back to answer for his involvement in the scandal.
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