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| US targets Monet and Warhol artworks in 1MDB case | US targets Monet and Warhol artworks in 1MDB case |
| (about 7 hours later) | |
| US prosecutors will try to seize a further $96m (£77m) in assets from the fugitive financier known as Jho Low. | |
| The assets sought by the the Department of Justice include an apartment in Paris and artworks by Claude Monet, Andy Warhol and Jean-Michel Basquiat. | |
| Officials say they were bought with money stolen from Malaysia's 1MDB state investment fund. | Officials say they were bought with money stolen from Malaysia's 1MDB state investment fund. |
| Prosecutors allege the assets are linked to cash raised for the fund dating back to 2012 and 2013. | Prosecutors allege the assets are linked to cash raised for the fund dating back to 2012 and 2013. |
| The money was meant to finance environmentally-friendly energy and tourism projects. | The money was meant to finance environmentally-friendly energy and tourism projects. |
| It is alleged that more than $4.5bn of the funds raised was siphoned out of Malaysia in a money laundering and bribery scandal that rocked the country. | It is alleged that more than $4.5bn of the funds raised was siphoned out of Malaysia in a money laundering and bribery scandal that rocked the country. |
| Wednesday's filing indicates that prosecutors have so far identified $1.8bn of assets that they say were purchased with stolen money. | Wednesday's filing indicates that prosecutors have so far identified $1.8bn of assets that they say were purchased with stolen money. |
| US officials have so far recovered or helped Malaysia recover more than $1bn in assets related to the alleged embezzlement. | US officials have so far recovered or helped Malaysia recover more than $1bn in assets related to the alleged embezzlement. |
| In October, it was announced that Mr Low, whose real name is Low Taek Jho, had agreed to hand over assets worth a total of $700m. | In October, it was announced that Mr Low, whose real name is Low Taek Jho, had agreed to hand over assets worth a total of $700m. |
| The deal with the Department of Justice did not include any admission of wrongdoing. | |
| The claims have led to the criminal prosecution of Malaysia's former prime minister Najib Razak as well as embroiling Wall Street banking giant Goldman Sachs, which raised money for 1MDB. | The claims have led to the criminal prosecution of Malaysia's former prime minister Najib Razak as well as embroiling Wall Street banking giant Goldman Sachs, which raised money for 1MDB. |
| In February, Andrea Vella, who was formerly co-head of Goldman’s Asia investment banking division ex-Japan, was banned for life from the banking industry by the US Federal Reserve over his role in the multi-billion dollar scandal. | In February, Andrea Vella, who was formerly co-head of Goldman’s Asia investment banking division ex-Japan, was banned for life from the banking industry by the US Federal Reserve over his role in the multi-billion dollar scandal. |
| Former Goldman Sachs partner, Tim Leissner, has pleaded guilty to participating in the scheme and agreed to forfeit up to $43.7m. | Former Goldman Sachs partner, Tim Leissner, has pleaded guilty to participating in the scheme and agreed to forfeit up to $43.7m. |
| Mr Low, who remains at large although his whereabouts is unknown, has denied any wrongdoing. | Mr Low, who remains at large although his whereabouts is unknown, has denied any wrongdoing. |
| A verdict in the trial of Mr Najib is due on 28 July, |
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