diamond jewellery linked to malaysian fund scandal to be handed to u.s. - simple jewellery set

KUALA LUMPUR (Reuters)-A $1.
According to the mother of Low Taek Jho, a Malaysian fugitive financier, 7 million pieces of diamond jewelry will be handed over to the United States. S. government, U. S.
The prosecutor said in a court document.
Low, known as Jho Low, was charged in Malaysia and the United States for allegedly stealing about $4.
5 billion Malaysia development Fund 1 (1MDB).
Low, who is still missing, has long denied wrongdoing. In 2017, the U. S.
Ministry of Justice (DoJ)
Civil forfeiture proceedings were filed against several assets allegedly purchased with stolen 1MDB funds, including a pair of flawless diamond earrings and a matching ring. Wednesday, United StatesS.
Prosecutors say the diamonds will be handed over to the United States as part of an agreement with the diamond custodian.
In a document of the California Court of Justice, the prosecutor stated that the transfer "should not be construed as recognition of misconduct or liability by the current custodian or any other party ".
Prosecutors did not disclose who the group's custodians were, but earlier documents said the jewels were believed to be in Thailand where Low's mother, Goh Gaik Ewe, lives.
The Justice Department claimed that Low used funds raised by 1MDB in 2012 to transfer bond proceeds to buy the diamonds as a gift to the mother.
A Low spokesman said in a statement that his client was "pleased to learn that the US Department of Justice and all relevant parties are working to resolve these issues amicably ".
"We look forward to the ongoing resolution of these issues," said spokesman Benjamin Haslem . ".
Authorities in at least six countries are investigating suspected money laundering and corruption related to 1MDB, which was established in 2009 by then Prime Minister Najib Razak of Malaysia.
Najib, who lost power in last year's general election, faces more than 40 criminal charges related to losses from 1MDB and other government entities.
He has always denied wrongdoing. (
Said Rozanna Latiff;
Editor Robert Birsel)