KUALA LUMPUR (June 27): The US Department of Justice (DOJ) said that it had reached an agreement, resolving two civil forfeiture cases, with fugitive Low Taek Jho (Jho Low), members of his family, and trust entities Jho Low established.

In a statement on its website on Wednesday, the DOJ said the parties had also agreed to cooperate in the transfer to Malaysia of certain other assets in Hong Kong, Switzerland, and Singapore that are linked to 1Malaysia Development Bhd (1MDB) funds.

The DOJ said under the agreement, the department will coordinate with foreign partners to facilitate the liquidation and return of these assets to Malaysia.

According to the civil forfeiture complaints, from 2009 through 2015, more than US$4.5 billion in funds belonging to 1MDB were allegedly misappropriated by high-level officials of 1MDB and their associates, including Jho Low, through a criminal conspiracy involving international money laundering and bribery.

The DOJ said the agreement resolves the civil forfeiture action against a luxury apartment in Paris, and artwork in Switzerland by artists Andy Warhol and Claude Monet, which Jho Low purchased for approximately US$35 million in total.

It said that in addition, the parties had agreed to return to Malaysia real property and cash in bank accounts valued at approximately US$67 million in Hong Kong, Switzerland, and Singapore.

The US will release a total of US$3.5 million to the trust entities to pay for legal fees and costs associated with the properties.

Under the agreement, none of these fees may be returned to Jho Low or his family members.

Prior to this settlement, the US had returned or assisted in the return to Malaysia of over US$1.4 billion in assets associated with the international money laundering, embezzlement, and bribery scheme.

The DOJ said Jho Low separately faces charges in the Eastern District of New York for allegedly conspiring to launder billions of dollars embezzled from 1MDB, and for conspiring to violate the Foreign Corrupt Practices Act by allegedly paying bribes to various Malaysian and Emirati officials, and in the District of Columbia for allegedly conspiring to make and conceal foreign and conduit campaign contributions during the US presidential election in 2012.

This agreement does not release any entity or individual from filed or potential criminal charges.

The Federal Bureau of Investigation's (FBI) International Corruption Squads in New York City and Los Angeles, and Internal Revenue Service (IRS) Criminal Investigation are investigating the case.