Asia Malaysian financier to give up claims to millions of dollars

Malaysian financier to give up claims to millions of dollars

Image result for the financier, Jho Low
Jho Low

A fugitive financier will give up claims to hundreds of millions of dollars in luxury goods prosecutors say were purchased with money stolen from a Malaysian investment fund, a person familiar with the matter said.

Under the settlement with U.S. prosecutors, the financier, Jho Low, relinquishes claims to assets that were seized by U.S. officials beginning in 2016, the person said. The settlement would also allow millions of dollars in fees to be paid to Low’s legal team.

The person was not authorized to discuss the matter publicly and spoke to the on condition of anonymity.