U.S. Government Recovers $700 Million in Asset Forfeiture Settlement re Malaysian Sovereign Wealth Fund

On October 30, 2019, the United States Department of Justice (DOJ) announced a settlement of its civil forfeiture cases against assets acquired by Low Take Jho, also known as 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.[1]