U.S. agrees $1 billion 1MDB recovery deal with Malaysian Jho Low

(Reuters) - The U.S. Justice Department on Wednesday reached a settlement deal with Malaysian financier Jho Low to recover almost $1 billion (£776.10 million) in funds the fugitive and his family had misappropriated from Malaysian investment fund 1MDB. High-level officials of 1Malaysia Development Berhad (1MDB) and associates including Low had siphoned over $4.5 billion belonging to the state-owned wealth fund from 2009 to 2015, the Justice Department said.

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