About S$164 million of 1MDB-related assets in Singapore remain seized or prohibited from disposal: Police

ABOUT S$164 million of 1Malaysia Development Berhad (1MDB)-related assets in Singapore remain seized or prohibited from disposal, the Singapore Police Force said in response to media queries on Tuesday (Jul 16).

This includes about S$101 million linked to Malaysian fugitive Low Taek Jho – more commonly known as Jho Low – and his family. Low has been accused of embezzling US$4.5 billion from Malaysia’s 1MDB sovereign wealth fund and remains at large.

The police said it is working together with the Attorney-General’s Chambers and foreign counterparts to return these assets to Malaysia. This is in accordance with the terms of the settlement agreement on Jun 26, 2024 between Low and his family members, the United States Department of Justice (DOJ) and Singapore’s laws.

The police added that the settlement agreement between Low and his family and the DOJ – “for the civil forfeiture actions instituted by the US DOJ against them” – “has no bearing” on the police’s criminal probe against Low and his associates. An Interpol red notice against Low remains in effect.

To date, the Singapore authorities have obtained court orders to release about S$103 million of the seized 1MDB-related monies to the Malaysian government.