M'sia's hunt for Jho Low unaffected by DOJ settlement - Johari

Malaysia’s efforts to apprehend alleged 1MDB mastermind Jho Low are not affected by the fugitive reaching a settlement with the US Department of Justice (DOJ).

1MDB taskforce chairperson Johari Abdul Ghani said this as the two are unrelated actions.

“You have to differentiate Malaysia’s search for Low, which is one thing, that is separate from the DOJ which has its own criminal action against Low and what they (DOJ) want to do is their right,” he said today.

A video of Johari’s exchange with the media was published by Malaysia Gazette.

The DOJ last week struck a deal with Low and his family that would see the return of over US$100 million in assets bought using stolen 1MDB funds.

The deal was reached through engagement with Low’s proxies.

Low’s whereabouts are currently unknown. 

Assets that are recovered by the DOJ will be returned to Malaysia.

Meanwhile, Johari said Malaysia’s dispute with Goldman Sachs over 1MDB asset recovery payments is still ongoing.

Goldman Sachs had arranged three bonds worth US$6.5 billion for 1MDB and the funds were mostly pilfered.

Following this, the Muhyiddin Yassin administration reached a settlement with Goldman Sachs on Aug 18, 2020, to which the latter agreed to pay US$2.5 billion within 10 days and guarantee US$1.4 billion for an asset recovery programme.

The current administration is seeking for the US$1.4 billion to be paid out instead.

Goldman Sachs last year filed for arbitration on the matter.

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