Authorities in Malaysia and the United States are investigating how billions of dollars went missing from 1MDB. The DOJ says over US$4.5 billion was misappropriated from the fund, with some of the money used to buy the private jet, a superyacht, Picasso paintings, jewellery and real estate.
KUALA LUMPUR (Aug 13): Malaysia is seeking to repossess a US$35 million ($48.1 million) private jet owned by financier Low Taek Jho as part of investigations into a multi-billion dollar scandal at state fund 1MDB, Prime Minister Mahathir Mohamad said on Sunday.
The financier, also known as Jho Low, bought the Bombardier Global 5000 jet for US$35.4 million in 2010 using funds allegedly taken from 1Malaysia Development Berhad (1MDB), the US Department of Justice (DOJ) has said.
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