Govt to forfeit RM48 million belonging to Jho Low’s dad

Govt to forfeit RM48 million belonging to Jho Low’s dad

KUALA LUMPUR: The High Court today ruled that the federal government can proceed immediately with full forfeiture of RM48 million belonging to Tan Sri Larry Low Hock Peng, the elusive father of fugitive financier Low Taek Jho who is better known as Jho Low.

The funds are believed to have originated from 1MDB.

Judge Mohamed Zaini Mazlan made the order after no one turned up during today’s hearing to show cause as to why the properties should not be seized by the government.

“Allow order as per the notice of motion so that the money is forfeited to the government of Malaysia,” Zaini ruled.

The forfeiture action was filed to freeze Larry’s seven bank accounts containing a total of over RM48.9 million in order to forfeit the funds that were alleged to be linked to money-laundering activities.

Deputy public prosecutor Aaron Chelliah told the court that a notice for third parties claiming to have an interest in the monies held in Larry’s bank accounts to contest the forfeiture was gazetted on June 17.

On March 29, the Malaysian government filed a forfeiture action against Larry, who is believed to be abroad and have since absconded.

Third party can stake claim over funds

In separate proceedings at the Kuala Lumpur High Court, judge Mohd Nazlan Mohd Ghazali fixed Sept 27, for any third party to come to court and stake a claim on RM677,872.55 linked to a 1MDB forfeiture suit against the Johor BN.

This was confirmed by DPP Allan Suman Pillai after case management of the matter in open court this morning.

“The court set Sept 27, 2019, for third party notice,” Pillai said.

The DPP added that Nazlan also set Aug 20, as the date for the respondent Johor BN to file an affidavit in reply and the prosecution to file any response to the respondent’s affidavit before Sept 27.

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