THE TEMASEK TIMES

News and views from an unique perspective

Breaking News: U.S. Justice Department to charge Jho Low in 1MDB scandal!

Posted by temasektimes on November 1, 2018

The U.S. Justice Department is set to charge the mastermind of Malaysia’s 1MDB scandal Low Taek Jho, better known as Jho Low together with two former Goldman Sachs bankers Tim Leissner and Roger Ng, according to a report by the Wall Street Journal.

Tim Leissner is expected to plead guilty to conspiracy to launder money and to violate the Foreign Corrupt Practices Act. He will forfeit US$43.7 million dollars.

Roger Ng, who was arrested in Malaysia will also be indicted while the whereabouts of Jho Low is currently unknown though it is widely speculated to be in China.

Jho Low was regarded as the mastermind behind the 1MDB scandal by siphoning more than US$4.5 billion dollars from the fund, perpetuating the largest fraud in the world.

U.S. prosecutors have previously filed civil asset forfeiture suits to seize assets allegedly purchased with funds stolen from 1MDB.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

 
%d bloggers like this: