Judge Nixes Gov't's 'Rough Justice' In 1MDB Forfeiture Case
By Jody Godoy (March 22, 2017, 7:34 PM EDT) -- A California federal judge rejected what she called the government's "rough justice" attempt to keep offshore trusts from contesting forfeiture of music rights, real estate and other assets tied to an alleged fraud on Malaysia's sovereign wealth fund, allowing the trustees to file late claims on Wednesday.
U.S. District Judge Dale Fischer will allow New Zealand and Cayman Islands-based trustees for the owner companies to stake their claim on assets allegedly stolen from 1Malaysia Development Berhad. The trusts benefit family members of Low Taek Jho, a Malaysian financier allegedly involved in misappropriating $3.5 billion in 1MDB bond proceeds.
The family members...
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