Jho Low’s family mansion seized
PENANG: The Malaysian Anti – Corruption Commission and the police who are jointly probing into money laundering activities of fugitive financier, Low Taek Jho, have seized Low’s family mansion, a three storey residence in Tanjung Bungah Park.
Low is better known as Jho Low.
The seizure notice on the front wall of the residence was addressed to his 66-year-old mother, Goh Gaik Ewe. It is believed that Goh’s name is listed as the owner of the property.
The notice stated that the property is being seized under section 4 (1) of the Anti-Money Laundering, Anti-Terrorism, Financing and Proceeds of Unlawful Activities Act 2001 with a 15-year jail term and a fine worth five times the value of the money laundered or RM5 million.
Online reports indicate that the mansion was not occupied when the notice was served.
The mansion is the second major asset seized by the Malaysian government since investigations formally began, in the wake of the 14th general election last year, into Jho Low’s alleged money laundering of funds linked to the 1MDB fund.
Previously, the super yacht Equanimity, which was valued at US$250 million (RM1 billion), was confiscated last year and is set to be auctioned off to the highest bidder later this year.
Jho Low meanwhile condemned the seizure as he viewed it as a measure of scoring political points on the part of the government.
Speaking via a spokesman, the elusive fugitive businessman said that the mansion was built during Prime Minister Tun Dr Mahathir Mohamad’s first administration in the 1980s.
“The Low family property was built and completed around twenty years ago, during Mahathir’s previous administration.
“This was more than a decade before 1MDB ever existed and at that time Mr. Low was still a teenager,” a spokesman for Low said in an emailed statement.
“This purported seizure of a property unconnected to any of the allegations is a blatant demonstration of Mahathir’s politicisation of the issues … further demonstrating that Mr Low cannot get a fair trial,” the statement added.
