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Jho Low to forfeit Warhol, Monet works in 1MDB deal with DOJ

Bloomberg
Bloomberg • 1 min read
Jho Low to forfeit Warhol, Monet works in 1MDB deal with DOJ
The department announced an agreement with Jho Low, members of his family, and trust entities in order to resolve two civil forfeiture cases. Photo: Bloomberg
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The US Justice Department has reached a deal to recover more than US$100 million ($135.7 million) in funds, including artworks by Claude Monet and Andy Warhol, linked to the multi billion-dollar 1MDB scandal.

The department announced an agreement with Jho Low, members of his family, and trust entities in order to resolve two civil forfeiture cases.

The department previously brought the cases against assets that it alleges were acquired by Low and his family using funds allegedly embezzled from troubled sovereign investment development fund, 1Malaysia Development Bhd.

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