Diamond jewellery linked to Malaysian fund scandal to be handed to US
Kuala Lumpur — A $1.7m diamond jewellery set, allegedly bought for the mother of fugitive Malaysian financier Low Taek Jho, will be handed over to the US government, US prosecutors said in a court filing. Low, known as Jho Low, has been charged in Malaysia and the US for his role in the suspected theft of about $4.5bn from state fund 1Malaysia Development Berhad (1MDB). Low, whose whereabouts are unknown, has consistently denied wrongdoing. In 2017, the US justice department filed civil forfeiture lawsuits on several assets said to have been bought with stolen 1MDB funds, including a pair of flawless diamond earrings and a matching ring. On Wednesday, US prosecutors said the diamonds would be handed over to the US as part of an agreement reached with the custodian of the set. The transfer “shall not be construed as an admission of wrongdoing or liability on the part of the current custodian or any other party”, the prosecutors said in a filing in a California court. Prosecutors did ...
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