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Jho Low Is Said to Give Up $900 Million in Assets in 1MDB Scandal


The mysterious Malaysian financier at the center of an international money laundering scandal that toppled a prime minister and rocked Goldman Sachs is poised to give up his claim to hundreds of millions of dollars in luxury apartments, yachts, jets and artwork that prosecutors say were bought with stolen money.

In a tentative deal with federal prosecutors, the fugitive financier, Jho Low, has agreed to relinquish any claims to roughly $900 million in assets that were seized starting in 2016, according to two people familiar with the matter.

Mr. Low, who is believed to be living in China, will not receive any special treatment in the criminal case pending against him.

Federal prosecutors will allow the seized assets to be used to pay more than $10 million in fees billed by Mr. Low’s legal team, which includes the former New Jersey governor Chris Christie and lawyers from Kobre & Kim, said the people, who were not authorized to speak publicly until the deal was finalized. The agreement, in which Mr. Low does not acknowledge any wrongdoing, was expected to be detailed in a series of court filings in federal court in Los Angeles.

Federal prosecutors there and at the Justice Department’s money laundering division in Washington have overseen the dozens of asset forfeiture actions against Mr. Low and his suspected accomplices. Prosecutors in Brooklyn are leading the criminal case against Mr. Low and two former Goldman Sachs bankers. One of those bankers, Tim Leissner, a former top partner at the firm, pleaded guilty in August 2018 to bribery and money laundering.

In all, federal authorities say, Mr. Low and his associates, who include the former prime minister of Malaysia, bought more than $1.7 billion in real estate, yachts, jets, jewelry and even funded a Hollywood movie with money looted from a Malaysian sovereign wealth fund known as 1MDB.


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