Malaysian police said today that they know the whereabouts of fugitive financier Jho Low and hope to bring him in by the end of the year to assist with the investigation into the fraud scandal at state-run fund 1MDB.
Investigators have said Low is a key figure in the 1MDB scandal, which Malaysian and US prosecutors allege was used to embezzle hundreds of millions of dollars.
“I will try my best to expedite (the process)… hopefully we can get him back by the end of the year,” police chief Abdul Hamid Bador said.
Low faces charges in Malaysia and the US about his alleged role in the 1MDB scandal.
The fund was founded by former Prime Minister Najib Razak, who was ousted last year and has been charged with 42 criminal offences related to losses at 1MDB and other state entities.
Both Najib and Low have denied wrongdoing.
Abdul Hamid said he thinks Low “has the protection of someone” who provided him a safe haven in an unnamed country.
He said the country in question has an extradition treaty with Malaysia.
“Our investigations found that he is free to move around, and able to run his businesses without any restrictions,” Abdul Hamid said.
He said he was confident Malaysian authorities would be able to secure Low’s return.
Malaysian and US investigators say at least $4.5bn (£3.6bn) was misappropriated from 1MDB by Low and other fund officials and their associates.
Picture credit: Getty -Jho Low pictured on right