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Malaysian fugitive financier, 4 others face new 1MDB charges

AP  |  Kuala Lumpur 

say they have filed new criminal charges against Low Taek and four others over the multibillion-dollar looting of state investment fund

Low is wanted for his alleged role as the mastermind in a massive money laundering and bribery scheme that pilfered billions of dollars from the indebted fund. He remains at large but maintains his innocence.

Last month, U.S. prosecutors charged Low and two former bankers with conspiracy to launder money.

says Low and four others were charged Tuesday with 13 money laundering and criminal breach of trust offenses involving losses of $1.17 billion of 1MDB funds.

He said Wednesday that arrest warrants have been issued for the five, who had fled

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, December 05 2018. 10:50 IST