Malaysian investigators have breathed new life into a global probe about corruption and embezzlement involving state fund 1MDB. Jho Low has the most to lose. 

Until recently, Malaysia has dithered in cooperating with investigators from the U.S., Singapore, and Switzerland in probing an alleged billion-dollar graft at its sovereign wealth fund 1MDB. That all changed last month with a surprise election victory by Mahathir Mohamad, who pledged to resuscitate the largely dormant probe in Malaysia.

On Thursday, investigators from Singapore, the banking center at the heart of the scandal, sat down with Malaysian counterparts, the city-state's prosecutor said in a statement.

«It was a productive meeting, with a fruitful exchange of information. Singapore has been providing Malaysia information on 1MDB-related fund flows, since March 2015, and this was acknowledged by Malaysia. Both sides agreed to continue this cooperation,» according to the statement.

Low Squeezed

The move illustrates renewed impetus for the U.S.-led probe, and raises the stakes for Jho Low. U.S. officials allege that the Malaysian businessman is at the heart of the scheme to siphon billions from the state fund.

Prime Minister Mahathir also doubled up on recent comments, saying Malaysia wants to arrest Low, «Reuters» reported on Friday. In fact, the government knows where Low is holed up, Mohamad said. But as he stays in a country with which Malaysia doesn't have extradition treaties, he can't currently be hauled in. The old-new prime minister didn't disclose the country in question.

Low has reportedly been spotted in Thailand, Cambodia, China and Hong Kong since the probe blew open in 2016. U.S. prosecutors put the kibosh on his ocean cruising when they seized his $260 million super-yacht earlier this year.

Bankers Banned

Singapore noted that a 2016 Interpol arrest warrant, a so-called red notice, for Low and another man, Tan Kim Loong, still holds. «All members of Interpol, including Malaysia, would have been aware of the Red Notices when they were published,» Singapore's prosecutor said, coyly alluding to Malaysia's lack of cooperation until now.

Singapore has been among the most severe in dealing with banks and bankers involved in the 1MDB debacle. The Monetary Authority of Singapore has banned eight bankers involved in the Malaysian graft scandal including Swiss citizen Jens Sturzenegger, the branch manager of Falcon Private Bank when it was shut down over 1MDB two years ago.