Washington, Nov. 1 -- The value of assets recovered in the civil forfeiture case between the United States Department of Justice (DOJ) and Jho Low should be returned to Malaysia in a transparent and accountable manner that ensures it benefits the Malaysian people, Transparency International said today.
On 30 October, DOJ announced that assets worth more than US$700 million located in the US, UK and Switzerland had been recovered from Low, his family and a trust located in the Cayman Islands. The assets were allegedly purchased with funds embezzled from 1 Malaysia Development Berhad (1MDB), the country's development fund, and laundered through financial institutions in several jurisdictions.
Dr Muhammad Mohan, President of Transparency Int...