KUALA LUMPUR • The Kuala Lumpur High Court yesterday allowed the Malaysian government to seize RM48 million (S$15.9 million) from the bank accounts of Larry Low Hock Peng, the father of fugitive businessman Low Taek Jho, better known as Jho Low.
Justice Mohamed Zaini Mazlan made the ruling in favour of the application from Deputy Public Prosecutor Aaron Chelliah after no third party turned up to contest the forfeiture of monies from seven bank accounts belonging to Larry Low.
The court was informed that a notice for third parties with interests in the asset to come forward and challenge the forfeiture had been gazetted on June 17.
On April 19, the High Court agreed to the prosecution’s request to gazette a notice inviting third parties to show cause why the properties should not be forfeited to the government.
The monies frozen in Larry Low’s accounts were believed to be part of the 1Malaysia Development Berhad (1MDB) probe.
The government had on March 29 filed a civil forfeiture action to freeze seven bank accounts belonging to Larry Low with the intention to forfeit them, claiming that the funds were the result of money laundering. Police had issued a warrant of arrest against Larry Low and his wife Goh Gaik Ewe.
Both Jho Low and his father were charged in absentia at the Putrajaya Sessions Court in August last year in relation to the misappropriation of 1MDB funds.
The fugitive businessman faces eight counts of money laundering, while his father faces one charge.
Jho Low, an associate of former prime minister Najib Razak and his family, has denied any wrongdoing relating to the 1MDB corruption scandal, saying he was an informal consultant at the fund.
THE STAR/ASIA NEWS NETWORK
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