Liu Tezo’s $337 Million Settlement Bid Rejected by Malaysian Government

Malaysia’s attorney general has rejected a request by fugitive tycoon Liu Tezo to settle the 1Malaysia Development Berhad (1MDB) scandal, according to the news.

 Earlier this year, Liu Tezo met with several government agencies through his representatives to seek a settlement. Attorney General’s Office, eventually rejected his offer without explaining the reasons.

 Tezo Liu is wanted in connection with the 1MDB scandal. He is accused of stealing $1.42 billion from three bond deals arranged by Goldman Sachs for the Malaysian Wealth Fund (1MDB). In response to the Malaysian government’s allegations, Liu Tezo offered a 1.5 billion settlement.

 Although Tezo Liu denied any wrong doing, U.S. prosecutors reached a deal with him in 2020. The agreement calls for the recovery of nearly $700 million worth of Liu Tezo’s assets which consist primarily of a Beverly Hills hotel and real estate in New York and London. As well, the U.S. recovered $260 million in assets that he had previously seized on behalf of Malaysia including a $126 million super yacht.

 Malaysian police reportedly said in April that they were still trying to locate Liu Tezo to apprehend and hold him accountable for his involvement in the scandal.