Fugitive Jho Low Seeks Trump Pardon for $4.5B 1MDB Fraud

Fugitive financier Jho Low, the alleged architect of the $4.5 billion fraud that looted a Malaysian sovereign wealth fund, has requested a presidential pardon from Donald Trump to remove U.S. criminal charges against him. The request was filed in recent weeks, according to people familiar with the matter, and is listed as a pending request for a “Pardon after Completion of Sentence” on a Department of Justice website under Low’s full name, Taek Jho Low.

U.S. prosecutors allege Low orchestrated a scheme to siphon at least $4.5 billion from the 1Malaysia Development Berhad (1MDB) fund, using $1.42 billion for personal enrichment while paying roughly $2 billion in bribes to officials, including former Malaysian Prime Minister Najib Razak. The scandal led to Goldman Sachs Group Inc. paying more than $5 billion in penalties for its role. A pardon represents Low's latest attempt to resolve his fugitive status after years on the run, and if granted, would nullify the U.S. criminal liability that a 2019 civil forfeiture settlement of over $700 million in assets failed to resolve.

The move is the latest chapter in the extraordinary saga of Low, who prosecutors say used a web of shell companies and payoffs to fund a lavish lifestyle that included partying with Hollywood stars, buying luxury real estate, and financing the film “The Wolf of Wall Street.” While several figures involved in the 1MDB theft have served jail time, including bankers in Switzerland and Singapore and Malaysia's former prime minister, Low has been a fugitive since approximately 2016 and is widely believed to be residing in China. He has previously denied wrongdoing.

During Trump’s first term, Low hired lawyers seen as close to the administration. One of his contacts, Fugees member Pras Michel, was later convicted and sentenced to prison for charges that included illegally lobbying the Trump administration on Low’s behalf. A White House official said Low’s request was not currently on the White House’s radar.

This article is for informational purposes only and does not constitute investment advice.