Malaysia has achieved another first in the world but it is something which Malaysians have nothing to be proud about.

Two days ago, Malaysian ‘billionaire’ and fugitive financier from justice, Jho Low reached a settlement deal with the United States Department of Justice and agreed to surrender US$1billion in funds he and his family had misappropriated from Malaysian investment fund 1MDB.

As Jho Low himself said his personal blog page:

“I am very pleased to confirm that a landmark comprehensive, global settlement has been reached with the United States government, which fully and forever resolves in their entirety each of the U.S. government’s civil, criminal, and administrative actions or proceedings relating to the defendant 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.”

Jho Low is not only the first Malaysian, but the only person, in the world who could surrender US$1 billion in funds, although his action “does not constitute an admission of guilt, liability or any form of wrongdoing by me or the asset owners”.

But this is not an action which any Malaysian can feel proud. Read the rest of this entry »