Millions seized from 1MDB fugitive financier Jho Low’s father’s bank accounts
The Malaysian government took legal action on Thursday to freeze about 48 million ringgit (US$11.8 million) in bank accounts belonging to the father of fugitive financier Low Taek Jho, The Edge newspaper reported.
The money in the seven of Low Hock Peng’s accounts is believed to have originated from state investment company 1Malaysia Development Berhad, the paper said, citing sources it did not identify.
The civil forfeiture action by the government was made under the country’s anti-money-laundering and anti-terrorism financing act, which allows authorities to confiscate property without a prosecution, the paper said.
Authorities have seized a mansion belonging to the Low family in connection to investigations into 1MDB, The New Straits Times reported earlier this month.
Low, known as Jho Low, has been painted by prosecutors including those in the US as the alleged mastermind of a scheme to siphon money from 1MDB into personal accounts disguised to look like legitimate businesses, and kicking back some of those funds to officials.
Low – whose whereabouts are unknown – has repeatedly denied any wrongdoing. Malaysia’s police said in January that they are seeking Low’s parents and an associate as they widen their search for evidence of possible wrongdoing at 1MDB.
Fugitive financier Low Taek Jho accused the Malaysian government today of abuse after authorities sought to freeze seven bank accounts belonging to his father who has been charged with money laundering in absentia.
Speaking through a spokesman, Low or Jho Low argued that the previous Barisan Nasional (BN) did not move to seize his family’s mansion in Penang and used this to accuse the Pakatan Harapan (PH) government of “harassment and political persecution.”
“Once again, the Mahathir regime has ignored the rule of law, and in a clear abuse of power is seeking to exploit the attorney general’s office and police force to attack opponents and do Mahathir regime’s personal bidding.
“This is yet another example of the Mahathir regime’s trial by media and is further evidence that it is simply not possible to receive a fair trial in Malaysia,” Low’s spokesman said in a statement.
Yesterday, federal authorities applied to freeze seven bank accounts registered to Tan Sri Larry Low, the father to Jho Low, via a civil forfeiture action.
