Malaysia 1MDB scandal: Jho Low to forfeit Warhol, Monet art in US$100 million settlement with US
- The fugitive financier will also give up a luxury Paris flat and real estate and bank accounts in Hong Kong, Singapore and Switzerland
Jho Low, the fugitive Malaysian financier, will forfeit more than US$100 million including a luxury Paris flat and works by Claude Monet and Andy Warhol to settle civil forfeiture cases over his role in the 1MDB bribery and embezzlement scandal.
The US Department of Justice announced the forfeiture on Wednesday, after US District Judge Dale Fischer in Los Angeles approved a consent agreement with Low and his family on Monday.
The forfeited assets are in addition to nearly US$1 billion, including a US$120 million “superyacht” that Low and his family previously forfeited.
Low still faces criminal money-laundering and bribery conspiracy charges in Brooklyn, New York, over 1MDB, a sovereign wealth fund also known as 1Malaysia Development Berhad.
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US and Malaysian authorities have said more than US$4.5 billion was looted from 1MDB between 2009 and 2015, with some money sent to offshore bank accounts and shell companies linked to Low.
