KUALA LUMPUR, Malaysia — The fugitive Malaysian financier Jho Low, a prime suspect in the theft of billions of dollars from the government, was charged Friday with eight counts of laundering money, much of it reportedly used to purchase a $250 million yacht.

The Malaysian police issued arrest warrants for Mr. Low and his father, Low Hock Peng, who was charged with one count of money laundering.

The warrants are a first step in seeking the pair’s extradition. Their location is unknown but there has been recent speculation in the news media that the younger Mr. Low is in China.

He is accused of playing a key role in the theft of at least $4.5 billion from a government investment fund, 1 Malaysia Development Berhad, that was established and overseen by the former prime minister, Najib Razak.