Singapore authorities said it is still pursuing Malaysian fugitive Low Taek Jho in connection with a multibillion-dollar scandal related to 1Malaysia Development Bhd.
A deal with the US Justice Department in June to settle civil actions against Low and his family “has no bearing” on Singapore’s criminal probe, the city-state’s police force said in an emailed statement Tuesday.
An Interpol Red Notice seeking the location and provisional arrest of the financier, better known as Jho Low, remains in effect, the police said. Singapore charged Low in absentia and issued a warrant of arrest in 2016.
Low has repeatedly declared his innocence in the past. Malaysia has been seeking to recoup over US$4.5 billion ($6.05 billion) which allegedly vanished from the state fund. The case has embroiled Goldman Sachs Group Inc. and Hollywood. It’s also created political upheaval in Malaysia with former Prime Minister Najib Razak losing the election in 2018 and being jailed in 2022 for his role in the scheme.
Singapore authorities have obtained court orders to release about $103 million of the seized 1MDB-related monies to the Malaysian government, according to the statement. About $164 million of 1MDB-related assets in Singapore remain seized or prohibited from disposal.
