KUALA LUMPUR – On July 16, Singapore police reaffirmed their commitment to pursuing Malaysian fugitive Low Taek Jho, better known as Jho Low, in connection with the multibillion-dollar 1MDB corruption scandal.
This statement follows a media report from June 28, which revealed that the United States Department of Justice (DOJ) had signed a confidential agreement with Low regarding the forfeiture of 1MDB assets. This agreement, reached in early June, is part of a global settlement intended to conclude the asset forfeiture campaign.
The report indicated that the DOJ’s agreement was made with Low’s family lawyers and financial trustees, involving the surrender of assets previously identified by authorities. The DOJ had previously labeled the 1Malaysia Development Berhad (1MDB) scandal as the largest kleptocracy case in history, which led to the imprisonment of former Malaysian premier Najib Razak.
Jho Low, who has consistently declared his innocence, remains a fugitive. Malaysia is actively seeking to recover more than US$4.5 billion (S$6.05 billion) believed to have been misappropriated from the state fund.
The Singapore Police Force stated that the DOJ’s agreement to settle civil actions against Low and his family does not impact their criminal investigations. “Our Interpol Red Notice against him remains in effect,” the police affirmed. A Red Notice is an international request for law enforcement agencies to locate and provisionally arrest a person.
To date, Singapore authorities have secured court orders to release approximately $103 million in 1MDB-linked funds to the Malaysian government. However, around $164 million in 1MDB-related assets in Singapore remain seized or restricted from disposal, including about $101 million linked to Low and his family.
“The Police, together with the Attorney-General’s Chambers, are working with our foreign counterparts to return these assets to Malaysia in accordance with the terms of the settlement agreement between Low and his family members and the US DOJ, and with our laws,” stated Singapore’s police force.
On June 26, the DOJ announced the recovery of an additional US$100 million to resolve two civil forfeiture cases. These assets include artworks by Andy Warhol and Claude Monet, cash in bank accounts in Hong Kong, Switzerland, and Singapore, and properties in Singapore and other locations.