[UPDATED] AGC rejects Jho Low’s RM1.5 bil settlement offer

KUALA LUMPUR – The Attorney-General’s Chambers (AGC) has rejected all offers by fugitive businessman Low Taek Jho, better known as Jho Low, to settle his charges with the Malaysian government.

In a statement, the AGC confirmed that Low made offers this year via his representative in an attempt to resolve his case with the government.

It added that Low’s representative had met with several government agencies including the AGC but all offers had been rejected.

This comes after a report by The Edge, quoting sources saying that Low offered the government RM1.5 billion to cut a deal.

Low is often said to be the mastermind of the 1Malaysia Development Bhd (1MDB) financial scandal, looting at least US$4.5 billion (around RM20.2 million) from the sovereign wealth fund.

A handful of his alleged collaborators have been charged in Malaysia and the US, including former prime minister Datuk Seri Najib Razak and former Goldman Sachs banker Roger Ng.

Low was also accused of arranging with New York jeweller Lorraine Schwartzin 2013 to create a US$23 million (RM97.3 million) pink diamond necklace for Najib’s wife, Datin Seri Rosmah Mansor, prosecutors in Ng’s trial told a New York court in March.

He was also charged in absentia in New York and Malaysia and has been on the run since the scandal came to light.

It was also reported that 1MDB’s US$1 billion was placed in the joint venture, paid out in two batches of US$700 million and US$300 million. US$300 million was channelled to the joint venture company while US$700 million was paid to Good Star Limited, a company owned by Low.

Both Najib and Rosmah have denied all wrongdoing. Najib is currently appealing his conviction in the case involving former 1MDB subsidiary SRC International Sdn Bhd. – The Vibes, July 16, 2022