THE US Department of Justice yesterday struck a deal with Low Taek Jho, a central figure in the 1MDB scandal, to recover almost US$1 billion (RM4.3 billion) looted from the state fund, reports Reuters today.

The deal, part of DoJ’s Kleptocracy Asset Recovery Initiative, is to resolve forfeiture cases linked to Low, better known as Jho Low, and parties related to him.

American prosecutors accuse Low of orchestrating the theft of more than US$4 billion from 1Malaysia Development Bhd, which were then used to purchase among others, the super yacht Equanimity, private jets, hotels, mansions, diamonds, and also funded a Hollywood film.

Yesterday’s deal does not include an admission of guilt or wrongdoing and is not tied to the criminal action against Low.

“I am very pleased to confirm that a landmark comprehensive, global settlement has been reached with the United States government,” Low said in an emailed statement.

The scandal and DoJ probes have also ensnared former prime minister Najib Razak, investment bank Goldman Sachs and Deutsche Bank.

Najib is on trial for four counts of power abuse to enrich himself with RM2.3 billion from 1MDB and 21 counts of laundering the same amount.

Goldman Sachs is also seeking a settlement with the DoJ and said last month, it will help return stolen funds to Malaysia, reports Bloomberg.

The business daily quoted Goldman Sachs president and CEO John Waldron as saying in a Bloomberg Television interview that “we want the Malaysian people to be taken care of”.

Malaysian and US investigators have said at least US$4.5 billion was misappropriated from 1MDB by Low and other officials.

Last year, Malaysia filed criminal charges against Goldman Sachs over its role as underwriter and arranger of three bond sales that raised US$6.5 billion for 1MDB. – October 31, 2019.