The Department of Justice has reached a settlement of its civil forfeiture cases against assets acquired by Low Taek Jho, aka Jho Low, and his family using funds allegedly misappropriated from 1Malaysia Development Berhad (1MDB), Malaysia’s investment development fund, and laundered through financial institutions in several jurisdictions, including the United States, Switzerland, Singapore and Luxembourg. These assets, located in the United States, the United Kingdom and Switzerland, are estimated to be worth more than $700 million. With the conclusion of this settlement, together with the prior disposition of other ... (full story)