US authorities preparing to charge financier Jho Low in Malaysian 1MDB scandal — WSJ
(The Edge) – US authorities intend to file criminal charges against flamboyant financier Jho Low, according to people familiar with the investigation, but haven’t disclosed the potential timing, The Wall Street Journal reported.
US authorities intend to file the criminal charges against the young Malaysian businessman in connection with an international scandal involving 1Malaysia Development Bhd (1MDB) that they believe could be one of the largest financial frauds ever, according to people familiar with the matter,
The civil suits, which are proceeding separately from the criminal probe, seek more than US$1 billion of assets, including van Gogh and Monet paintings and luxury real estate in New York and Los Angeles, allegedly bought with stolen money. The Justice Department is currently seeking to add recently discovered Low family property to the list of assets it is trying to seize, including a yacht Jho Low controls, the US$165 million, 300-foot, helipad-equipped Equanimity, WSJ reported.
In addition, Singapore has been building a potential criminal case against Jho Low, said a person involved in the city-state’s investigation. A Justice Department team has just finished a visit to Singapore to conduct interviews related to Jho Low and other aspects of the 1MDB matter, said two people familiar with the trip.
