(July 13): Malaysian financier Low Taek Jho said attempts to link him to recent guilty pleas in 1Malaysia Development Bhd.-related probes are based on “unfounded assumptions,” after Singapore prosecutors said he used money traceable to the state fund for his own benefit.

Low is the central figure in investigations linked to 1MDB and received “huge” sums, the prosecutors said in court filings made public on Wednesday. About US$1 billion ($1.38 billion) that 1MDB was purported to invest in a joint venture with PetroSaudi International Ltd. was diverted to a bank account beneficially owned by Low, according to the filings.

“It has been clearly stated by the Malaysian authorities that there has been no evidence of any misappropriation of 1MDB funds,” Low’s representative said in an emailed statement. “No wrongdoing has been proved in any jurisdiction relating to the alleged misappropriation of 1MDB funds, and this development in Singapore does not change that.”

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