Court allows forfeiture of RM48m from accounts of Jho Low's father
The High Court in Kuala Lumpur today allowed the forfeiture of more than RM48 million from the bank accounts of Larry Low, the father of fugitive 1MDB-linked businessperson Low Taek Jho.
Judge Mohamed Zaini Mazlan ruled in favour of the application from deputy public prosecutor Aaron Chelliah after no third party appeared to stake a claim on the assets...
The High Court in Kuala Lumpur today allowed the forfeiture of more than RM48 million from the bank accounts of Larry Low, the father of fugitive 1MDB-linked businessperson Low Taek Jho.
Judge Mohamed Zaini Mazlan ruled in favour of the application from deputy public prosecutor Aaron Chelliah after no third party appeared to stake a claim on the assets.
Larry was absent from the open court proceedings this morning. An arrest warrant has been issued against him.
It was reported on April 19 that the court set a three-month notice period for any third party to contest the forfeiture bid.
The Edge Markets previously reported that the RM48 million in seven of Larry's accounts had originated from 1MDB.
During proceedings this morning, Chelliah informed the court that no third parties had come forward despite a notice having been issued on June 17, as per the Anti-Money Laundering and Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001.
“No third parties came today, the applicant (government) applies for the assets stated in the notice to be forfeited to the government per the notice.
"As submitted previously (past proceedings), the applicant regards the respondent (Larry) as an absconded person under Section 63 of the act," he said.
The provision states that persons shall be treated as if convicted if they abscond in connection with a serious offence under the act.
“Previously, the applicant filed an affidavit as one of the efforts to track the respondent. Among efforts undertaken are to publish (a notice to Larry) in newspapers, as general knowledge.
"A warrant of arrest had been issued but the authorities have not been able to locate the respondent until now."
When met after proceedings, Chelliah said that authorities have not been successful in tracking Larry down.
“Nobody knows where he is. (There's) no statement from him,” he said.
In August last year, Larry and his son were charged in absentia at the Putrajaya Sessions Court in relation to the misappropriation of 1MDB money. Larry is facing one count of money laundering, while his son faces eight charges.
Suit against Johor BN
In separate proceedings at the Kuala Lumpur High Court, judge Mohd Nazlan Mohd Ghazali fixed Sept 27 for any third party to stake a claim on RM677,872 linked to the 1MDB forfeiture suit against Johor BN.
This was confirmed by deputy public prosecutor Allan Suman Pillai after case management this morning.
He added that the judge also set Aug 20 for Johor BN to file an affidavit in reply, and Sept 27 for the prosecution to file a response.
KiniGuide: Who’s who in MACC's 1MDB civil forfeiture suit
On June 21, MACC chief commissioner Latheefa Koya announced that forfeiture suits had been filed against Umno and 40 other entities to recover more than RM270 million in 1MDB-linked funds, with over RM212 million being sought from Umno.
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