In a tentative deal with federal prosecutors, the fugitive financier, Jho Low, has agreed to relinquish any claims to roughly $900 million in assets that were seized starting in 2016, according to two people familiar with the matter . It is one of the largest civil asset forfeiture recoveries by the United States government. Mr. Low, who is believed to be living in China, did not acknowledge any wrongdoing in the draft agreement, according to the people, who were not authorized to speak publicly until the deal was finalized. It also did not include any provisions offering him special treatment in the criminal case pending against him. There was one favorable provision for Mr. Low: Federal prosecutors will allow some of the seized assets to be used to pay more than $10 million in fees billed by Mr. Low’s legal team, which includes the former New Jersey governor Chris Christie and lawyers from the firm Kobre & Kim.

Source: International New York Times October 30, 2019 16:52 UTC