The department previously brought the cases against assets that it alleges were acquired by Low and his family using funds allegedly embezzled from troubled sovereign investment development fund, 1Malaysia Development Bhd.
Low also agreed to cooperate in the transfer to Malaysia of certain other assets located in Hong Kong, Switzerland and Singapore that are linked to 1MDB funds.
“The agreement resolves the civil forfeiture action against a luxury apartment in Paris and artwork located in Switzerland by artists Andy Warhol and Claude Monet, which Low purchased for approximately US$35 million in total,” according to the statement. “In addition, parties agreed to return to Malaysia real property and cash in bank accounts valued at approximately US$67 million located in Hong Kong, Switzerland, and Singapore.”
