News Local Malaysian police say Jho Low seeking to buy more Cyprus properties

Malaysian police say Jho Low seeking to buy more Cyprus properties

Malaysian police said on Wednesday that fugitive financier Low Taek Jho, accused of a multi-billion dollar theft at state fund 1Malaysia Development Berhad (1MDB), is attempting to purchase properties in Cyprus under a different name.

Low, also known as Jho Low, has been charged in Malaysia and the United States over the alleged theft of $4.5 billion from 1MDB, set up by former Malaysian Prime Minister Najib Razak.

Information on Low’s efforts to buy real estate in Cyprus was gathered after a series arrests, Malaysia’s police chief Abdul Hamid Bador told a news conference, a video of which was posted on the police’s official Facebook page.

“We have made arrests quietly. About three or four weeks ago. From these arrests, we have been able to unravel information saying that Jho Low is making attempts to purchase assets using a name that we don’t know in Cyprus,” Abdul Hamid said.

The police chief did not say what name Low was using for the transactions.

Low, whose whereabouts is unknown, has denied wrongdoing regarding 1MDB. His spokesman has said Low had been offered asylum in an unidentified country.

Malaysia’s state-run news agency Bernama reported on Monday that Abdul Hamid said the government where Low was living has refused to cooperate with efforts to extradite him, but he refrained from naming the country.

Source: Reuters

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