Prosecution seeks to forfeit 1MDB-linked cash from alleged Jho Low associate

Prosecutors have filed a 1MDB-linked forfeiture suit against Casey Tang, an alleged associate of fugitive businessperson Low Taek Jho (Jho Low).

Through the application filed at the Kuala Lumpur High Court in November last year, prosecutors are seeking to forfeit a total of RM156,500 in Tang’s four bank accounts - three at Maybank and one at RHB Bank.

The prosecution is also seeking to forfeit a Subaru XV2.01 sports utility vehicle (SUV) registered under Tang’s name, as well as his two properties in Puchong, Selangor - one bungalow at Bandar Kinrara, and an office shop at Bandar Puchong Jaya.

Low, Tang (above) and several others were alleged to have participated in the embezzlement of billions of ringgit out of sovereign wealth fund 1MDB.

Former premier Najib Abdul Razak is on trial over the RM2.28 billion 1MDB corruption case, where the prosecution claimed that Low, Tang and several other accomplices misappropriated funds with Najib’s blessing.

However, Najib’s defence team contended that he was neither involved nor had knowledge of wrongdoing and that the embezzlement was solely masterminded by Low and several others.

The former finance minister is also serving a 12-year jail sentence over the RM42 million SRC International corruption case.

In the course of the SRC trial, Low and Tang’s names cropped up several times.

Investigators are still seeking the whereabouts of both men and the other alleged accomplices - Jasmine Loo, Terence Geh and Eric Tan - over the 1MDB affair.

Initially a subsidiary of 1MDB, SRC later became fully owned by the Minister of Finance Incorporated (MOF Inc). Najib also used to be the chairperson of 1MDB’s board of advisers and SRC’s adviser emeritus.

Third party notice

The forfeiture suit against Tang came up for case management before High Court judge Collin Lawrence Sequerah this morning.

Today’s mention is to update on whether the respondent would enter an appearance in the matter, via himself or through his lawyer.

Deputy public prosecutor Noor Zalizan Lazarous informed Sequerah that the respondent has yet to enter his appearance in the case.

She informed the court that the third party notice for the assets targeted by the suit was gazetted on Aug 30.

At this juncture, counsel Muhamad al-Muazzim Azmi Amin confirmed that his client - Maybank - is seeking to claim part of the targeted assets.

Under the law, a third party notice is issued in a forfeiture matter in order to give an opportunity for any third party to stake a claim on any part of the assets sought by the prosecution in the suit.

Sequerah set Oct 12 for further case management to allow parties to file affidavits linked to the third-party claim.

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