The Council of Ministers decided to strip Malaysian fugitive Jho Low of the Cypriot citizenship, the Cyprus News Agency (CNA) reported.
According to CNA sources, in March, the Ministry of Interior requested the assistance of Interpol to gather sufficient evidence to justify the deprivation of citizenship for the Malaysian fugitive.
Following this, the Ministry subsequently referred the matter to the Council of Ministers, which decided today to officially revoke Low’s citizenship.
Low is accused of embezzling over $4.5 billion from Malaysia’s state investment fund, 1MDB, in 2015 and syphoning them to his own accounts.
His whereabouts are unknown and he has denied wrongdoing regarding 1MDB.
Low made headlines in Cyprus when he used funds wired by Deutsche Bank to buy an Ayia Napa villa on church land, via which he acquired a Cypriot passport through the government’s investment scheme.
FT: Deutsche Bank facilitated wiring of Cyprus funds of Malaysian Jho Low