U.S. recovers cash, artwork in $85M 1MDB civil forfeiture

July 23 (UPI) -- The Department of Justice recovered nearly $85 million in cash and artwork allegedly paid for with money embezzled from 1Malaysia Development Berhad.

Federal prosecutors also recovered diamond jewelry and artwork by Pablo Picasso , Claude Monet , Vincent Van Gogh , Diane Arbus and Jean-Michel Basquiat , it announced Tuesday.

The works of art and jewelry were allegedly possessed by Low Taek Jho, who also goes by Jho Low, and his co-conspirators after embezzling billions from 1MDB, which is Malaysia's sovereign investment fund.

Low and his co-conspirators are accused of embezzling more than $4.5 billion from 1MDB from 2009 through 2015.

1MDB former general counsel "Jasmine" Loo Ai Swan agreed to help the Department of Justice recover artwork by Picasso and money from a Swiss bank account.

The Department of Justice also obtained civil forfeiture orders on assets allegedly obtained by Low using embezzled funds, including the aforementioned diamond jewelry and works of art.

Instead of using 1MDB funds for their intended purpose of promoting economic development in Malaysia through direct foreign investment and global partnerships, the Department of Justice says Low and Loo conspired to embezzle the money.

Instead of improving the well-being of Malaysian people, the Department of Justice alleged the pair and others conspired to engage in international bribery and money laundering to promote their own well-being at the expense of the Malaysian people.

Loo agreed to surrender a Picasso work of art and $1.8 million in cash. The agreement still leaves Loo liable for potential criminal charges.

Low also agreed to forfeit the many works of art he allegedly bought using embezzled funds from 1MDB.

In June, he agreed to a $100 million asset forfeiture .

The combined assets forfeited by Loo and Low amount to about $85 million.

The asset forfeiture was done through the U.S. District Court for Central California.

The Department of Justice previously secured a combined total of about $1.4 billion in assets and returned them to Malaysia.

The assets were associated with the international embezzlement, money laundering and bribery scheme in which Loo, Low and others allegedly participated.

Low also is charged with conspiracy to launder billions embezzled from 1MDB and violating the Foreign Corrupt Practices Act by allegedly bribing Malaysian and Emirati officials.

He also is accused of concealing foreign campaign contributions made during the 2012 presidential election in the United States.

The additional criminal charges against Low are filed in the U.S. District Court of Eastern New York.