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Malaysian wanted by US in 1MDB scandal says he's innocent

The young Malaysian tycoon wanted by the U.S. for his alleged role in ransacking a state investment fund insists he's innocent

Reported by: AP [ Published on: November 02, 2018 14:15 IST ]
Image Source : AP Malaysian wanted by US in 1MDB scandal says he's innocent

The young Malaysian tycoon wanted by the U.S. for his alleged role in ransacking a state investment fund says he's innocent.

In a statement posted on his website, Taek Jho Low asks people to "keep an open mind" and says evidence will vindicate him.

The Justice Department on Thursday charged Low in a money laundering and bribery scheme that pilfered billions of dollars from the 1MDB investment fund. Prosecutors announced a three-count indictment of Low in the first charges arising from the scandal over the epic corruption scandal at the state investment fund known as 1MDB.

Low's statement says he held no formal position at the fund and that bond offerings detailed in the DOJ indictment were "undertaken openly and lawfully between experienced, well-regulated financial institutions and government entities."

Disclaimer: This is unedited, unformatted feed from the Associated Press (AP) wire.

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