Jho Low's luxury New York condo sold at US$6.2m loss
A luxury condo unit in New York belonging to fugitive financier Jho Low has been sold by the US government at a sharply discounted rate.
A report by real estate portal The Real Deal indicated that the two-bedroom unit on Prince Street had been purchased by an unnamed limited liability company for the sum of US$7.6 million (RM33 million), which is considerably less than the US$13.8 million that Low paid for it in 2014.
A luxury condo unit in New York belonging to fugitive financier Jho Low has been sold by the US government at a sharply discounted rate.
A report by real estate portal The Real Deal indicated that the two-bedroom unit on Prince Street had been purchased by an unnamed limited liability company for the sum of US$7.6 million (RM33 million), which is considerably less than the US$13.8 million that Low paid for it in 2014.
The report indicated that the unit owned by Low, whose real name is Low Taek Jho, was first put up for sale at US$9.9 million last July before the asking price was reduced to US$8.5 million last month.
Low’s properties in New York and California have been the subject of forfeiture lawsuits mounted by the US government, as he has been accused of buying them using money stolen from Malaysia’s sovereign wealth fund, 1MDB.
In March, it was reported that a mansion in Los Angeles bought by Low for US$38.98 million in November 2012, was finally sold for US$18.5 million.
Other notable purchases by Low, who is still on the run, included the US$250 million yacht Equanimity (which has since been renamed Tranquility following its purchase by Genting Malaysia Bhd for US$126 million).
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