Malaysia’s 1MDB a ‘Victim’ of Jho Low, Prosecutors Say
- Low is a central figure in city-state’s investigations
- Ex-banker Yeo Jiawei agrees to help prosecutors with the probe
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Prosecutors in Singapore said that Malaysian financier Low Taek Jho is the central figure in probes linked to 1Malaysia Development Bhd. and that he used money traceable to the state fund for his own benefit.
Low received “huge” sums of money, the prosecutors said in court filings made public on Wednesday. About $1 billion that 1MDB was purported to invest in a joint venture with PetroSaudi International Ltd. was diverted to a bank account beneficially owned by Low, according to the filings.