American Marconi Wireless News - Fugitive financier sought in Malaysian fund scandal seeks Trump's pardon

Businessman Low Taek Jho, better known as Jho Low, is formally seeking a "pardon after completion of sentence," according to the US Department of Justice website.

Whistleblowers allege that Jho Low, a well-connected Malaysian financier with no official role, helped set up the 1MDB state investment fund and made key financial decisions before disappearing about a decade ago.

Low, who has been indicted in the US, has denied wrongdoing but remains at large.

The fund was launched by former prime minister Najib Razak in 2009, shortly after he became prime minister. It is alleged that more than $4.5 billion was diverted from 1MDB between 2009 and 2015 by fund officials and associates, including Low.

Najib, who has been tried and convicted in multiple cases, has been jailed and fined $2.8 billion for his role in the plunder.

Najib's defense lawyers blamed Low and dubbed him the mastermind of the scheme.

Malaysia unsuccessfully sought the return of Low through extradition, and it was widely speculated in media that he was hiding in China.

Trump was scheduled to arrive in China on Wednesday to meet with Chinese counterpart Xi Jinping.

The scandal shook Malaysian politics, contributing to the 2018 downfall of the ruling coalition that had governed since independence in 1957, and led to the convictions of two former Goldman Sachs bankers.

Investigators said top officials used their ill-gotten gains to splurge on luxury assets worldwide, including a luxury yacht, high-end real estate, Monet and Van Gogh paintings and even to fund the Hollywood blockbuster "The Wolf of Wall Street."

Actor Leonardo DiCaprio testified in court about Low's wild spending sprees and lavish parties.

The globe-spanning scandal also ensnared Pras Michel, a rapper in rap trio the Fugees, who was found guilty of helping Low funnel money from 1MDB into US politics.

O.Karlsson--AMWN