KUALA LUMPUR (June 28): The US Department of Justice (DOJ) has entered into a confidential agreement with fugitive Low Taek Jho (Jho Low) in a bid to reach a global settlement - and possibly a final chapter - to the years-long asset forfeiture campaign tied to the corruption scandal at 1Malaysia Development Bhd (1MDB), said Singapore-based Channel News Asia (CNA).

In a report on Friday, CNA said documents it reviewed showed that the global settlement agreement would “forever [resolve] the US’ civil, criminal and administrative asset forfeiture actions or proceedings relating to the disposition” of assets tied to 1MDB.

The report said according to the documents as well as executives close to the situation, the DOJ signed a confidential agreement in early June with Jho Low’s family lawyers and their financial trustees.

It would involve surrendering assets previously identified by the authorities, as well as those not previously claimed or captured by prosecuting agencies worldwide, under a fresh settlement plan.

It is a deal that could bring closure to one of Washington’s longest-running asset forfeiture cases that former US attorney general Jeff Sessions described as “kleptocracy at its worst”.

CNA said the agreement to try and reach a global settlement was signed by Margaret A Moeser, the acting chief of the money-laundering and asset recovery section of the criminal division of the DOJ, lawyers for the Lows’ financial trustees, and Jho Low’s family lawyer Robin Rathmell of law firm Kasowitz Benson Torres.

The confidential agreement, which has yet to be publicly disclosed, is tied to the announcement on Wednesday by the DOJ that it is to recover an additional US$100 million in resolving two civil forfeiture cases. 

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