SINGAPORE: An Interpol red notice was issued against Malaysian fugitive financier Low Taek Jho, who is better known as Jho Low, in 2016 and it "remains in effect", the Singapore Police Force said on Tuesday (Jul 16).
Responding to media queries, the police said that a settlement agreement between the United States Department of Justice (US DOJ) and Low and his family "has no bearing" on criminal investigations against Low and his associates".
CNA first reported on the US DOJ settlement in late June. It would involve surrendering assets previously identified by the authorities, as well as those not previously claimed or captured by prosecuting agencies worldwide, under a fresh settlement plan.
The global settlement agreement would "forever (resolve) US’ civil, criminal and administrative asset forfeiture actions or proceeding relating to the disposition" of assets tied to 1MDB, according to documents reviewed by CNA.
"About S$164 million of 1MDB-related assets in Singapore remain seized or prohibited from disposal," the police said, adding that this includes S$101 million linked to Low and his family.
They added that Singapore authorities had obtained court orders to release about S$103 million of the seized 1MDB-related monies to the Malaysian government.
Continue reading...
Responding to media queries, the police said that a settlement agreement between the United States Department of Justice (US DOJ) and Low and his family "has no bearing" on criminal investigations against Low and his associates".
CNA first reported on the US DOJ settlement in late June. It would involve surrendering assets previously identified by the authorities, as well as those not previously claimed or captured by prosecuting agencies worldwide, under a fresh settlement plan.
The global settlement agreement would "forever (resolve) US’ civil, criminal and administrative asset forfeiture actions or proceeding relating to the disposition" of assets tied to 1MDB, according to documents reviewed by CNA.
"About S$164 million of 1MDB-related assets in Singapore remain seized or prohibited from disposal," the police said, adding that this includes S$101 million linked to Low and his family.
They added that Singapore authorities had obtained court orders to release about S$103 million of the seized 1MDB-related monies to the Malaysian government.
Continue reading...