KUALA LUMPUR (Oct 31): Fugitive businessman Low Taek Jho confirmed today he has reached a landmark comprehensive, global settlement with the US government to resolve the US' civil and criminal actions relating to his assets. Low, better known as Jho Low, maintains his innocence.

theedgemarkets.com, quoting the US Department of Justice's (DoJ) statement, reported today the DoJ announced it has reached a settlement of its civil forfeiture cases against assets acquired by Low and his family using funds allegedly misappropriated from 1Malaysia Development Bhd (1MDB), and laundered through financial institutions in several jurisdictions, including the US, Switzerland, Singapore and Luxembourg.

It was reported that the DoJ, however, highlighted that the agreement does not release any entity or individual from filed or potential criminal charges.

Low did not mention in his statement 1MDB or the value of assets involved.

He said the settlement fully and forever resolves in their entirety each of the US government's civil, criminal, and administrative actions or proceedings relating to the defendant's assets at issue in the Central District of California.

"Importantly, the agreement does not constitute an admission of guilt, liability or any form of wrongdoing by me or the asset owners. We believe all parties consider this resolution, which is subject to final court approval, to be a successful and satisfactory result.

"The historic agreement builds on a series of successful prior agreements negotiated with the US DoJ and is the result of good faith discussions between the parties," he said.

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