(Aug 24): Malaysia charged fugitive financier Low Taek Jho with money laundering and said it’s seeking Interpol’s help to locate and arrest him, tightening the net around a central figure behind the alleged embezzlement of funds from state investment company 1MDB.

Low took part in laundering "proceeds of unlawful activity" when he received about US$262 million ($358 million), and transferred about EUR 41 million ($65 million) and US$141 million, charge sheets showed. His father -- Low Hock Peng -- was charged with transferring more than US$56 million to him. The transactions took place between December 2013 and June 2014.

Low faces eight counts of money laundering while his father has one. Each carries a maximum fine of 5 million ringgit (US$1.6 million), a jail term of as long as five years, or both. They were charged in absentia and their whereabouts aren’t publicly known.

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