Malaysian Police Admits Failure in Bringing Jho Low Back in 2019

Bookmark

(Bloomberg) -- Malaysian police failed to meet a goal of returning fugitive businessman Jho Low, the alleged mastermind behind the 1MDB scandal, to the country by the end of 2019, saying certain parties have obstructed the process.

Police will seize residential property in Malaysia owned by Low’s family worth “millions of ringgit,” Inspector-General of Police Abdul Hamid Bador told reporters in Kuala Lumpur on Monday. He didn’t specify which parties had hindered the effort to bring Low back.

Authorities aren’t giving up on their campaign to return Low, and will guarantee his safety if the financier comes back to face the due process, the police chief said.

Investigators have described Low as the mastermind behind the 1MDB scandal, which saw billions of dollars allegedly misappropriated from the Malaysian state fund. Low, who faces multiple charges in the U.S. and Malaysia, has denied any wrongdoing.

©2020 Bloomberg L.P.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.