US DoJ moves to seize New York luxury apartment bought with alleged 1MDB funds tied to Jho Low's personal assistant
KUALA LUMPUR, May 28 -- The United States Department of Justice has secured a court order forfeiting a luxury apartment in New York allegedly purchased using funds misappropriated from 1Malaysia Development Berhad (1MDB), in the latest recovery linked to the sprawling global corruption scandal.
The US Department of Justice (DOJ) said yesterday that the forfeiture also covered rental income generated from the property, resolving a civil case seeking the recovery of more than US$6 million (RM24 million) in assets tied to an international money laundering conspiracy involving the Malaysian sovereign wealth fund.
According to the DOJ, the condominium unit was allegedly bought for the benefit of May Ling Catherine Tan, described as a persona...
Click here to read full article from source
To read the full article or to get the complete feed from this publication, please
Contact Us.