KUALA LUMPUR: The United States Department of Justice’s (DoJ) is seeking to recover more than US$73 million (RM305.2 million) in funds associated with Low Taek Jho, also known as Jho Low.
The department announced this in a civil forfeiture claim filed with the US courts yesterday (Nov 30).
The money, amounting to over RM300 million is believed to have been allegedly from unlawful activities –including bank fraud, conspiracy to commit bank fraud and providing false statements to a financial institution”.
The announcement was made by the Assistant Attorney General Brian A. Benczkowski of the department’s Criminal Division, Assistant Director in Charge William F. Sweeney Jr. of the FBI New York Field Office, and Special Agent in Charge Keith A. Bonanno of the DoJ’s Office of the Inspector General (DOJ-OIG) Cyber Investigations Office.
“As alleged in the forfeiture complaint, multiple bank accounts were opened at US financial institutions by Prakazrel (“Pras”) Michel and former Justice Department employee George Higginbotham in 2017 to receive tens of millions of dollars in funds from overseas accounts controlled by Jho Low.
“In opening these accounts, Michel and Higginbotham allegedly made false and misleading statements to US financial institutions that housed the accounts in order to mislead these institutions about the source of the funds and to obscure Jho Low’s involvement in these transactions,” read the statement which was also uploaded on the department’s website.
It also revealed that Michel and Higginbotham allegedly intended to use these funds to attempt to influence the Justice Department’s investigation of Jho Low and 1MDB.
As alleged in the complaint, Higginbotham, as a Justice Department employee, played no role in any aspect of the investigation and failed to influence any aspect of the Department’s investigation of Jho Low or 1 Malaysia Development Bhd.
“According to the allegations in the complaint, Michel and Higginbotham defrauded US financial institutions and laundered millions of dollars into the US as part of an effort to improperly influence the Department’s investigation into the massive embezzlement and bribery scheme involving 1MDB,” said Benczkowski.
“The Criminal Division and our law enforcement partners will do everything we can to trace, seize, and forfeit the proceeds of foreign corruption that flow through the US financial system,” he added.
Sweeney said that corruption was often at the root of national security, terrorism and criminal threats, and those who seek to take advantage of our financial systems to perpetuate fraud and abuse will not be tolerated.
“The FBI is committed to investigating and uncovering corruption no matter where it occurs, in conjunction with our domestic and international partners,” he said.
Meanwhile Bonanno further said that ensuring the integrity of the DoJ employees was of paramount importance and that an employee who facilitates or participates in this type of illicit activity would be thoroughly investigated by the OIG, including situations where attempts were made to influence the Department’s independence.
Individuals with information about possible proceeds of foreign corruption located in or laundered through the US should contact federal law enforcement or send an email to kleptocracy@usdoj.gov (link sends e-mail).