New: You can now listen to articles.KUALA LUMPUR: The United States Department of Justice has entered into a confidential agreement with fugitive financier Low Taek Jho in a bid to reach a global settlement
It would involve surrendering assets previously identified by the authorities, as well as those not previously claimed or captured by prosecuting agencies worldwide, under a fresh settlement plan. Lawyers said that the agreement, signed by the parties on Jun 3 and 4, also involves other confidential commitments to the US government, which will pursue settlement negotiations with other counterparties, including administrations in other international jurisdictions, to reach a global resolution to the debacle that led to the jailing of former premier Najib Razak.
These cases stem from what US prosecutors have maintained was part of a conspiracy that took numerous shapes between 2009 and 2015 and involved the misappropriation of more than US$4.5 billion in stolen funds from 1MDB. It began in 2015 and focused on the issue of 1MDB bonds amounting to US$6 billion that was raised in three tranches coordinated by investment bank Goldman Sachs.
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