Jho Low: He stole $4.5B from the Malaysian 1MDB fund
Jimmy Maio Jimmy Maio
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 Published On Nov 3, 2020

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Jho Low is a Malaysian businessman and international fugitive sought by the authorities in Malaysia, Singapore, and the United States in connection with the 1MDB scandal. He is accused of being the mastermind of the 1MDB fraud. Prosecutors allege Low to be the mastermind of a scheme to siphon $4.5 billion from 1MDB into his personal accounts. He is the beneficiary of numerous discretionary trust assets said by the US government to originate from payments out of the Malaysian 1MDB fund.

Jho Low is believed to be in China where he travels extensively through major cities, secretly. He has managed to travel freely despite the Malaysian police had submitted an Interpol red alert, saying that these actions are politically motivated.

Low has stated that he "will not submit to any jurisdiction where guilt has been predetermined by politics and where there is no independent legal process" and has maintained his innocence throughout the 1MDB scandal. He contends that Malaysian authorities are engaging in a campaign of harassment and political persecution due to his prior support of former Prime Minister Najib Razak.

The 1Malaysia Development Berhad scandal (1MDB scandal) is an ongoing political scandal occurring in Malaysia. In 2015, Malaysia's then-Prime Minister Najib Razak was accused of channeling over US$700 million from 1Malaysia Development Berhad (1MDB), a government-run strategic development company (masterminded by Low Taek Jho, commonly referred to as Jho Low), to his personal bank accounts.

While Low has denied wrongdoing, he and his family last year dropped their defense of the forfeiture lawsuits that have been pending in a federal court in Los Angeles, which has allowed the government to seize more than $700 million in assets. Some of the real estate, including luxury condominiums in New York and mansions in Beverly Hills, has been put on the market.

The 1MDB global corruption scandal toppled the previous Malaysian government of Najib Razak, ensnared a Wall Street powerhouse, and set off investigations across the globe. In February, a political upheaval led parties that had backed Najib to return to power, placing the local probe and efforts to recover 1MDB funds in question.

US$4.5 billion was diverted from 1MDB by Jho Low and other conspirators including officials from Malaysia, Saudi Arabia, and the United Arab Emirates.

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