PETALING JAYA: The United States Justice Department (DoJ) is said to have inked a confidential agreement with fugitive financier Low Taek Jho (Jho Low) to reach a global settlement regarding the forfeiture of 1MDB assets, According to Channel News Asia (CNA).

The global settlement would forever resolve Washington’s civil, criminal and administrative asset forfeiture actions of such assets.

The agreement to try to reach a global settlement was signed by Margaret A. Moeser, Acting Chief of the Money Laundering and Asset Recovery section in the Criminal Division of the DOJ, lawyers for Low’s financial trustee, and Low’s family lawyer Robin Rathmell of the law firm Kasowitz Benson Torres.

According to documents reviewed by CNA, the updated settlement plan would see the surrender of assets previously identified by the authorities.

Assets that were not previously claimed or captured by prosecuting agencies worldwide would also be handed over.

The agreement is linked to the DoJ’s announcement on June 26 that it would recover an additional US$100mil in resolving two civil forfeiture cases, including artworks by Claude Monet and Andy Warhol.

The DoJ previously brought cases against assets, which it alleges were acquired by Low and his family using funds allegedly embezzled from 1MDB.

Earlier this June, Washington said that to date, it has been able to recover and assist in recovering and returning about US$1.4bil (RM6.6bil) in 1MDB-related funds misappropriated from Malaysia.