WASHINGTON (AP) — The Justice Department has charged a fugitive Malaysian financier in a money laundering and bribery scheme that pilfered billions of dollars from a Malaysian investment fund created to promote economic development in that country.
Prosecutors on Thursday announced a three-count indictment Low Taek Jho, who is also known as Jho Low.
In addition, they announced a guilty plea from a banker who admitted being part of the conspiracy, and the arrest in Malaysia of another banker.
The charges are the first arising from a global scandal over the epic corruption scandal at the state investment fund known as 1MDB.
Disclaimer: This is unedited, unformatted feed from the Associated Press (AP) wire.
